The won-dollar exchange rate rose above 1,440 won per dollar.
At 1:04 p.m. on the 23rd in the Seoul foreign exchange market, the won-dollar exchange rate was 1,440.25 won per dollar, up 10.45 won from the previous session. It is the first time in five months that the rate has topped 1,440 won intraday since May 2 (1,440 won). The rate, which began transaction at 1,431.8 won, up 2 won from the day before, broke through 1,440 won in the afternoon as its gains widened.
Rhee Chang-yong, governor of the Bank of Korea, said at a press briefing right after the Bank of Korea's monetary policy committee on the day regarding the rise in the exchange rate, "It climbed about 35 won in a month, with about one-fourth due to a stronger dollar and three-fourths due to a weaker yuan and yen, concerns over the tariff issue, and worries about raising $350 billion in funds for investment in the United States."
Although the KOSPI crossed the 3,900 level intraday for the first time ever on the day, an apparent outflow of foreign funds also played a role, with foreigners net selling about 490 billion won.