Won-Dollar Exchange Rate at KRW 1,464.8... Highest since Financial Crisis

Won-Dollar exchange rate jumps to 1,450 won after start of trading

During the day, it rose to KRW 1,465.9 and threatened KRW 1,470

Trading at KRW 1,464.8, up KRW 8.4 as of 3:30 p.m.

Highest in more than 15 years since 2009 when financial crisis hit

[Anchor]
The won-dollar exchange rate has risen high, easily exceeding 1,460 won.

This is the highest level since the 2009 financial crisis.

I'll connect you to a reporter for more information. Reporter Lee Hyungwon!

The rise in the exchange rate is unusual, right?

[Reporter]
Yes, the won-dollar exchange rate opened at 1,450 won today, so I wondered if it was slowing down.

It went up very fast.

During the day, it once soared to 1,465.9 won.

The exchange rate, which had been going up and down slightly, was trading at 1,464.8 won as of 3:30 p.m.

It is the highest level in more than 15 years since 1,483.5 won on March 13, 2009, when the financial crisis hit.

The fact that the won's price is falling so much is largely due to the U.S.

The U.S. Federal Reserve cuts its expectations for the number of rate cuts next year from four to two,
This is because the Trump administration, which is about to launch
, is promoting U.S. priority and encouraging the strengthening of the dollar.

In addition, the growing uncertainty in our economy due to the impeachment brought about by the aftermath of martial law is also dragging down the won's price.

As a result, some experts left the top of the exchange rate open at around 1,500 won.

[Anchor]
Our stock market also weakened at the high exchange rate, right?

[Reporter]
Yes, investor sentiment seems to be shrinking due to the high exchange rate.

This is due to concerns about "exchange losses," which increase losses when switching to dollars as the won's value drops significantly.

On top of that, it is analyzed that the political and economic uncertainty brought about by the impeachment is fueling the avoidance of the Korean stock market.

As a result, the KOSPI closed at 2,429.67, down 0.44% from the previous trading day.

KOSDAQ also closed 0.66% lower at 675.64.

So far, I'm Lee Hyungwon of YTN on the Korea Exchange.