The won-dollar exchange rate stood at 1,380.9 won as of 9 a.m. on the 28th. It is the same level as the prior transaction day's weekly closing price.
There are projections the rate could fall today, as net buying of domestic stocks by foreign investors is expected. Min Kyung-won of Woori Bank said, "Nvidia shares surged overnight," adding, "There is a high possibility that artificial intelligence (AI)-related theme stocks will rise in Asian markets today."
There are also views that the short-term trend ahead could shift depending on Jackson Hole remarks tonight by Chair Kevin Warsh of the Federal Reserve (Fed). The biggest variable for the exchange rate is what message Warsh will send on inflation and interest rate hikes.
However, even if the rate declines, the drop may be limited, as a lower rate tends to boost demand to buy dollars on the cheap. The increase in Korean retail investors trading U.S. stocks has also put pressure on the exchange rate.