On the 19th, the won-dollar exchange rate opened at 1,474 won, up slightly from the close on the 16th.
As of 9:10 a.m., the won-dollar exchange rate was 1,474.4 won in the Seoul foreign exchange market. The rate opened at 1,474 won, up 0.4 won from the previous transaction day's (on the 16th) weekly transaction closing price (as of 3:30 p.m.) of 1,473.6 won, and has been extending gains in early trading.
Over the weekend, U.S. President Donald Trump said he would impose a 10% U.S.-bound tariff starting next month and 25% from June on eight European countries that oppose the U.S. intention to annex Greenland, sending the dollar higher. The eight countries subject to the tariff are Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland, which have either dispatched troops to Greenland or expressed an intention to do so.
According to Investing.com, the U.S. dollar index (DXY), which shows the value of the dollar against the currencies of six major countries, reached 99.16 as of 9:28 a.m., nearing 100. A reading above 100 indicates the dollar is stronger than major currencies, while a reading below 100 indicates it is weaker.
Min Kyung-won, a Woori Bank researcher, said, "The exchange rate is expected to rise today," and noted, "Regarding the weekend territorial dispute over Greenland, the United States mentioned a reciprocal tariff increase and trade retaliation, which is likely to dampen risk appetite for assets such as the won."