Won Strengthens Against Dollar Amid Exporter Selling

The South Korean won has strengthened against the US dollar, with the exchange rate dropping to 1,462.5 won per dollar by the end of the week.

This marks a decline of 6 won (0.4%) from the previous trading day's close and is the fourth consecutive session where the rate has held in the 1,460-won range.

The rate began to fall after opening at 1,465 won earlier in the day, reaching as low as 1,461.4 won around 3:07 p.m.

Experts attribute the decline to exporters' dollar selling, which supplies dollars to the Seoul foreign exchange market and pushes the rate down.

However, with strong exports continuing recently, a Woori Bank researcher notes that month-end exporter supply flows could serve as a positive factor for the won.