Won-Dollar Rate Hits 1,358.6 Won Amid Rising US Interest Rates

The won-dollar exchange rate has strengthened to 1,358.6 won at 9 a.m. on August 1st, up 5.8 won (0.42%) from the prior transaction day's weekly close.

This increase is attributed to the strengthening U.S. dollar, despite U.S. inflation coming in below expectations.

The possibility of a benchmark rate hike remains alive due to strong growth and employment.

Rising U.S. Government Bonds yields are also contributing to the strengthened won-dollar exchange rate, with the 10-year yield reaching 5.3% intraday, its highest since May 2002.