Won-Dollar Exchange Rate Surges...Record KRW 1,408.5 during the day

The local currency soared again to 1,408.5 won against the U.S. dollar as of 4:14.

The won-dollar exchange rate rose throughout the day after retracing 1,400 won at 9:12 a.m. in Seoul's foreign exchange market.

Due to former U.S. President Donald Trump's victory in the presidential election, the won-dollar exchange rate has been soaring around 1,400 won since surpassing 1,400 won on the 6th.

The market analyzes that the falling value of the yuan due to Trump's high tariff pledge against China also affects the depreciation of the won.