On the 27th, the won-dollar exchange rate surpassed 1,470 won per dollar and even broke through the 1,480-won mark. With political uncertainty widening, the exchange rate is now nearing 1,500 won per dollar.
On this day, in the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,483.90 won per dollar at 11:16 a.m., 19.1 won higher than the previous day's transaction. It is the first time in 15 years and 9 months since Mar. 16, 2009 (1,488.5 won) that the exchange rate exceeded 1,480 won per dollar in weekly trading. Before the financial crisis, the last time was Mar. 20, 1998 (1,472 won) during the International Monetary Fund (IMF) financial crisis era.
The exchange rate began at 1,467.5 won per dollar, up 2.7 won from the previous day's transaction. It then surpassed 1,470 won and 1,475 won in succession, breaking through the 1,480-won level ahead of the impeachment vote against acting President Han Duk-soo.
As political instability intensified, the Korea Composite Stock Price Index (KOSPI) fell for the third consecutive transaction day, dropping below the 2,400 level. According to the Korea Exchange, KOSPI opened at 2,419.46, down 10.21 points from the previous transaction day, and as of 11:15 a.m., stands at 2,396.12.
Experts predict that the exchange rate could rise to 1,500 won. Park Sang-hyun, a Research Institute at iM Securities, noted, "We view the exchange rate ceiling as 1,500 won until January to February next year," adding that it could be adjusted upward with the inauguration of President Donald Trump and domestic political uncertainty.
There are predictions that the exchange rate could rise further. Cho Yong-goo, a Research Institute at Shin Young Securities, stated, "The exchange rate increased by 30 to 35 won following President Yoon Suk-yeol's declaration of martial law, and by 30 won ahead of the impeachment vote against acting President Han Duk-soo," predicting, "The domestic issues alone make it likely for the exchange rate ceiling to surpass 1,500 won, and if the U.S. new government's tariff policy is specified in the first half of next year, it could rise to 1,550 won."