With the Seoul foreign exchange market open 24 hours on the 6th, the won-dollar exchange rate opened at 1,527.6 won per U.S. dollar. That was up 2 won from the previous transaction day.
The foreign exchange market began trading at 6 a.m. that day. As operating hours expanded to 24 hours, the transaction start time was moved up by three hours from 9 a.m. Now, the won can be transacted anytime from 6 a.m. Monday to 6 a.m. Saturday.
The won-dollar exchange rate rose to 1,537.5 won around 9:09 a.m., then fell to 1,526.7 won around 10:11 a.m. But it turned higher again, climbing to 1,530 won around 10:24 a.m.
There is a view that the won-dollar exchange rate could be in the 1,520-won range that day. That is because there is growing expectation that the downtrend may have begun after the rate finished weekly transactions at 1,525.6 won on the 3rd, down 30.2 won from the previous transaction day.
However, some noted that it is necessary to watch whether foreign investors are net sellers of domestic stocks. If foreigners sell domestic stocks and exchange the proceeds into dollars, dollar demand could expand and the won-dollar rate could rise. On the 3rd, foreigners dumped 2.3 trillion won in the Korea Exchange. Their net selling in the first half surpassed 149 trillion won.