The won-dollar exchange rate stood at 1,392.6 won as of 3:30 p.m. on the 20th, closing the week's transactions. It was down 5.1 won (0.36%) from the previous trading day. On a weekly close basis, it was the lowest level in about 11 months since Sept. 23 last year (1,392.6 won). It remained in the 1,300-won range for the second straight trading day, following the day before.
The rate opened the day's transactions at 1,387 won at 6 a.m., then fell to as low as 1,384.1 won around 9:18 a.m. It then reversed higher, rising to 1,396.6 won around 2:39 p.m. As the rate touched the 1,380-won range, buyers looking to purchase dollars at lower prices appeared, analysts said.
With the exchange rate trending lower recently, sentiment is growing that the won will remain strong going forward. Some say that as the rate fell below 1,400 won, more dollar selling could emerge. A shift in tone has appeared as major export corporations like SK hynix occasionally sold dollars they hold.
Net purchases of domestic stocks by foreign investors also weighed on the rate's decline that day. When foreigners sell dollars to buy domestic stocks, the rate tends to fall. That day, foreigners made net purchases of 1.7266 trillion won in the main bourse.