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Summary
- It was reported that the won-dollar exchange rate surged to the early 1420 won level due to political instability.
- It was stated that the exchange rate slightly fell as volumes suspected of government intervention emerged.
- It was reported that domestic political instability was analyzed as a major factor in the exchange rate fluctuation.
Retreat to 1420 Won Level Suspected Due to Government Intervention
Photo=Yonhap News
On the morning of the 6th, the won-dollar exchange rate is fluctuating due to political instability in the Seoul foreign exchange market.
As of 11:30 a.m. that day, the won-dollar exchange rate is trading at 1,419.7 won, up 6.4 won from the previous day.
The exchange rate started at 1,416.0 won, up 0.9 won from the previous session, and began to soar sharply from around 10:35 a.m., reaching 1,429.2 won, up 14.1 won from the previous day, at around 10:53 a.m.
Afterwards, the exchange rate fell to the early 1420 won level as volumes suspected to be government intervention emerged.
The sharp rise in the exchange rate that day is interpreted as being influenced by ongoing domestic political instability, such as the martial law situation and the rapid progress of the impeachment political situation.
Bloomingbit Newsroom
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