The won-dollar exchange rate fluctuated sharply throughout the day. It rose above 1,470 won in the morning but reversed and closed at around 1,465 won. This was influenced by the dollar's strength following the announcement of tariffs on automobiles in the United States.
According to the Seoul foreign exchange market on the 27th, the weekly closing price of the won-dollar exchange rate (as of 3:30 p.m.) recorded a decrease of 1.0 won from the previous trading day, settling at 1,465.3 won. This marks the fifth consecutive trading day that the exchange rate has closed at around 1,460 won since the 21st (1,462.70 won).
The exchange rate started at 1,469 won, up 2.7 won from the previous trading day's closing price. Shortly after the market opened, it soared to 1,471.5 won, reaching the highest level for weekly transactions since 1,472.5 won on the 3rd of last month.
Overnight, U.S. President Donald Trump officially announced that, in addition to tariffs on steel and aluminum, a tariff of 25% will be imposed on foreign-made automobiles imported into the U.S. starting on the 3rd of next month, contributing to the dollar's strength.
However, the possibility of fine-tuning by foreign exchange authorities led the exchange rate to reverse and fall again. As of 11:30 a.m., it dropped to 1,463.6 won but rose again, hovering around 1,465 won before closing. As of 4:09 p.m., when weekly transactions ended, the exchange rate recorded 1,465.6 won.
According to Investing.com, the dollar index (DXY), which indicates the value of the dollar against six major currencies, soared to 104.69 as of 6 a.m. This is the highest level since the 5th. It then underwent slight adjustment, recording 104.43 as of 4:19 p.m.
Min Kyung-won, a researcher at Woori Bank, noted, "By imposing tariffs on automobiles following those on steel and aluminum, concerns about an intensifying tariff war have spread," adding, "As inflation fears in the U.S. amplify, the value of the dollar is likely to show an upward trend, and the won is expected to weaken."
Wi Jae-hyun, an economist at NH Futures, said, "Market preferences for safety have significantly strengthened amid escalating tariff threats," and evaluated that "This, along with the sharp decline in the U.S. stock market focused on semiconductors and automobiles, will also lead to the outflow of foreign capital from the domestic stock market."