The won-dollar exchange rate stood at 1,499.3 won at 9 a.m. on the 13th. That was down 2.1 won (0.13%) from the previous trading day's weekly transaction closing price.
There is an outlook that the rate could fall below 1,500 won today. Although military clashes between the United States and Iran continue, appetite for risky assets has not faded. In fact, the three major New York indexes rose slightly on the 10th (local time). Stock indexes climbed overnight even though U.S. President Donald Trump declared an end to the cease-fire with Iran.
There are also high expectations that the listing of SK hynix American depository receipts (ADR) will help stabilize and push down the exchange rate. SK hynix issued ADRs on the 10th and raised $26.5 billion. SK hynix is said to use the funds for domestic artificial intelligence (AI)-related facility investment. If the dollars raised for this are converted into won, dollars will be supplied to the Seoul foreign exchange market, which could lower the exchange rate.
However, the extent of the decline may be limited. Min Kyung-won of Woori Bank said, "From the low 1,500-won level, there is a strong chance that a large amount of real demand to buy dollars will flow in," and noted, "Moves to secure necessary volumes in advance when the rate level falls will also act as a factor stiffening the downside of the rate."