The won-dollar exchange rate at one point in intraday trading on the morning of the 26th fell by 8 won to 1,457 won on the Seoul foreign exchange market, then climbed back above 1,461 won.
The won-dollar rate opened at 1,465 won that day. It then plunged to 1,457 won at about 9:31 a.m. In the market, some said the rate fell as expectations grew that the government had signaled a defense plan for the currency ahead of a 10 a.m. press briefing on the foreign exchange market by Deputy Prime Minister Koo Yun-cheol.
But the rate started to rise again. It topped 1,460 won at 10:48 a.m. It then climbed to 1,461.31 won at 11:03 a.m. Compared with the previous day's closing price, it was down 11.1 won.
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