On the 16th, the won-dollar exchange rate opened at 1,470 won per U.S. dollar, up 0.3 won from the previous day. It is interpreted as inflows of bargain hunting after the exchange rate fell sharply the previous day.
The previous day, the won-dollar exchange rate logged its first decline of the new year on remarks seen as a verbal intervention by Scott Bessent, the U.S. Treasury Secretary. Minister Bessent posted on social media platform X (formerly Twitter), "(With Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance) we discussed that the recent weakness of the won is not consistent with Korea's solid economic fundamentals." As a result, the won-dollar exchange rate ended weekly transaction (9 a.m.–3:30 p.m.) at 1,469.7 won, down 7.8 won. It was the first time in three sessions that the rate fell below the 1,470-won level.
Today, the following day, the won-dollar exchange rate opened higher and immediately rose back into the 1,470-won range. Min Kyung-won, a Woori Bank researcher, said, "(In the foreign exchange market today) the inflow of onshore and offshore bargain buying will keep upward pressure (on the won-dollar rate) dominant," adding, "Importers are not waiting for further declines and are consistently responding with aggressive bargain buying."