The won-dollar exchange rate against the U.S. dollar closed at 1,500.8 won on the 15th. It rose 9.8 won from the previous transaction day.
It has been about a month since the won-dollar exchange rate broke through 1,500 won, on the 7th of last month. Since the outbreak of the U.S.-Iran war on Feb. 28, the weekly closing won-dollar exchange rate surpassed 1,500 won 13 times, including on this day. The won-dollar exchange rate rose for six straight transaction days, including on this day.
The won-dollar exchange rate opened at 1,494.2 won, up 3.2 won, and then climbed in the afternoon to top 1,500 won. It is seen as driven by foreign investors' net selling of domestic stocks. When foreigners sell domestic stocks and exchange them for dollars, dollar demand expands, pushing up the won-dollar exchange rate. Foreign investors recorded net selling for seven consecutive transaction days, including on this day.
The dollar is strengthening on global inflation concerns, as U.S. inflation indicators beat expectations. The U.S. Federal Reserve (Fed) is seen as having a harder time cutting its benchmark rate. A sharp drop in the British pound, which fostered a strong-dollar mood, also played a role.