The won-dollar exchange rate trimmed its losses slightly in overnight transaction and ended in the low 1,440-won range.

On the 24th, the KOSPI index closes lower, showing 4,108.62, down 8.70 points (0.21%) from the previous session, on the dealing room board at the Hana Bank headquarters in Jung-gu, Seoul. /Courtesy of News1

At 2 a.m. on the 27th (Korea time), the won-dollar exchange rate closed at 1,442.20 won, down 7.60 won from the previous Seoul foreign exchange market closing price.

Compared with the closing price of 1,440.30 won for this session's daytime transaction (9 a.m.–3:30 p.m.), it was up 1.90 won.

The won-dollar exchange rate fell further that day on news that the National Pension Service began full-scale strategic currency hedging on the 24th.

After the regular session closed, bargain hunting flowed in, and the intraday 1,450-won level was reclaimed. As the dollar index rebounded above 98 in New York alongside a weaker yen, the won-dollar exchange rate followed suit.

However, with the foreign exchange authorities' resolve to stabilize the rate and concerns about the National Pension Service's hedging still in place, the won-dollar exchange rate widened its decline again to the low 1,440-won range.

The intraday high was 1,454.30 won and the low was 1,429.50 won. The trading range was 24.80 won.

Including overnight transaction, total spot foreign exchange volume totaled $11.171 billion, combining Seoul Money Brokerage Services and Korea Money Brokerage.

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