The exchange rate exceeded 1,460 won for two consecutive days...For the first time since the global financial crisis

Acting Acting President Han Deok-soo's impeachment motion sent the won-dollar exchange rate soaring

Exchange rate continues to exceed KRW 1440 → KRW 1450 → KRW 1460 this month

Political instability spreads in the impeachment of acting president...a sharp rise in the exchange rate

[Anchor]
As the National Assembly proposed the impeachment of Acting President Han Deok-soo, the won-dollar exchange rate also soared as there was growing anxiety that Deputy Prime Minister Choi Sang-mok would become acting acting president.

It topped 1,460 won for the second straight day, approaching 1,470 won, the first such surge in the exchange rate since March 2009 during the global financial crisis.

Reporter Ryu Hwan-hong reports.

[Reporter]
On the Seoul foreign exchange market, the won-dollar exchange rate rose to 1,455.2 won after the start.

As the National Assembly proposed the impeachment of Acting President Han Deok-soo, the exchange rate exceeded 1,460 won for the second day and soon exceeded 1,465 won.

Since the won-dollar exchange rate rose to 1,596 won on March 2, 2009, during the global financial crisis, it has surpassed 1,465 won for the first time in about 15 years and 10 months.

The won-dollar exchange rate, which rose after former U.S. President Trump's victory in the presidential election, exceeded 1,440 won after the emergency martial law crisis, surpassed 1,450 won after the U.S. FOMC's hawkish rate cut, and surged again as acting president Han Deok-soo's impeachment progressed.

The exchange rate has also been affected by growing political instability, with even the acting presidential authority being impeached, with some speculating that Deputy Prime Minister for Economic Affairs Choi Sang-mok may take over as acting president.

As the exchange rate fluctuations increased, foreign exchange market officials were paying keen attention to the exchange rate market all day."

The market also sees a large influx of speculators betting on a rise in the exchange rate amid growing anxiety caused by political uncertainty.

[Seo Jung-hoon / Senior Researcher at Hana Bank: The exchange rate rose to 1,460 won, reflecting the influx of demand for settlement and strengthened buying forces outside the region. On top of that, we believe that domestic political uncertainty continues and has affected the surge in the exchange rate.

The KOSPI retreated from 2,440 to 2,420 as individual investors sold a net 250 billion won due to high exchange rates and political unrest.

The KOSDAQ index also retreated from the 680 level to the 670 level again due to net selling by individuals and foreigners.

I'm YTN's Ryu Hwan Hong.