The won-dollar exchange rate opened at 1,465.5 won on the 9th. It fell 4 won from the previous transaction day.
The decline in the won-dollar exchange rate that day is interpreted as a result of revived investor sentiment toward risk assets in the market. When investor sentiment toward risk assets strengthens, demand tends to rise for the won, which is not a reserve currency.
On the previous transaction day, major indexes on the New York stock market all closed higher. On the 6th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 1,206.95 points (2.47%) to finish at 50,115.67. It was the first time the index topped 50,000 points. The Standard & Poor's (S&P) 500 rose 1.97% from the previous session to 6,932.30, and the tech-heavy Nasdaq composite closed up 2.18% at 23,031.21.
Min Kyung-won of Woori Bank said, "The New York stock market managed a rebound as concerns over excessive investment in artificial intelligence (AI) and a plunge in software stocks eased," adding, "There is a strong chance this will be digested as a bullish factor for the won, a risk currency."