The won-dollar exchange rate closed at 1,444.9 won on the 13th. It rose 4.7 won from the previous day. The won-dollar rate ended higher for the first time in five days.
The rise in the won-dollar rate is seen as driven by foreigners' net selling of domestic stocks. When foreigners sell domestic stocks, demand for the won declines, tending to weaken the currency. On the day, foreigners sold 978.9 billion won worth of shares on the Korea Composite Stock Price Index (KOSPI) market. They also recorded net selling of 256.6 billion won worth of shares on the KOSDAQ market.
As a result, the Korea Composite Stock Price Index (KOSPI) fell 0.28% from the previous day to close at 5,507.01. The KOSDAQ index also dropped 1.77% over the same period to finish transaction at 1,106.08. Min Kyung-won of Woori Bank said, "After successfully breaking above 5,500 points the previous day, the KOSPI faced a high likelihood of a pullback as some investors moved to take profits."
Meanwhile, the foreign exchange market, which was closed during the Lunar New Year holiday, will open at 9 a.m. on the 19th.