The won-dollar exchange rate against the U.S. dollar closed at 1,542.7 won on the 25th. It rose 0.7 won from the previous transaction day. Following 1,541.8 won the day before, it also finished trading above 1,540 won on this day.
The won-dollar exchange rate opened at 1,543 won on this day and at one point surged to 1,549 won. However, it finished trading in the afternoon with a slight decline. The won-dollar exchange rate has stayed above 1,500 won for 28 consecutive transaction days from the 15th of last month to this day. It is the longest period after the foreign exchange crisis (49 consecutive transaction days).
It is seen as continuing dollar strength after the United States said it could raise the benchmark interest rate within the year, tightening the money supply.
In particular, net selling of domestic stocks by foreign investors appears to have had an impact. When foreigners sell domestic stocks and exchange them for dollars, dollar demand increases and the won-dollar exchange rate tends to rise.
Foreign investors recorded net selling of 4.6533 trillion won the day before and a further 820 billion won on this day. Foreign investors dumped domestic stocks for five consecutive transaction days through this day. Net selling during this period was 12.5 trillion won.