Won-Dollar Rate Hits 10-Month Low Amid Fed Rate Expectations

The South Korean won-dollar exchange rate has dropped to its lowest point in over 10 months. As of Wednesday at 12:02 pm, the won was trading at 1,399 per dollar 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 also increased their sales of dollars, contributing to the downward trend. The rate initially opened at 1,413.3 won and continued to fall throughout the session.