Won-Dollar Rate Drops Below 1,300 Won Amid Fed Expectations

The South Korean won-dollar exchange rate has hit its lowest point in over 10 months. On August 19, the rate fell to the 1,300 won range, with the won trading at 1,399 per US dollar by 12:02 pm in Seoul's foreign exchange market. This decline is attributed to expectations that the U.S. Federal Reserve will keep its benchmark interest rate unchanged.

Exporters have been increasing their sales of dollars, further contributing to the rate's drop. The won opened at 1,413.3 per US dollar and continued to fall throughout the session.