Won ends week steady as exporters sell dollars

The South Korean won concluded weekly trading at 1,343.6 won per U.S. dollar on October 6, marking a slight decline of 0.4 won (0.02%) from the previous session. The exchange rate fluctuated within a narrow range throughout the day, opening at 1,342 won in the morning and reaching a high of 1,346.7 won before settling into the 1,342-1,345 won range by the end of trading.

The relative stability of the won-dollar rate was attributed to dollar selling by major South Korean export corporations. Despite the dollar's strength, fueled by the Middle East war and rising government bond yields in major economies, these corporate actions helped prevent significant volatility in the exchange rate.

The dollar index, which measures the U.S. currency against six major global currencies, rose to 102.26, up 0.15 points from the prior day. Analysts pointed to euro weakness, particularly due to growing concerns over Europe's fiscal deficits, as a key factor behind the dollar's strength. The French government bond yields surged, widening the spread with German bonds to its highest level since the 2011 debt crisis.

Meanwhile, the yen-dollar exchange rate fell to around 158.2 yen, a decrease of 0.6 yen from the previous day's close. The yen has been trending weaker since hitting an intraday low of 152.1 yen on September 14.