The won-dollar exchange rate stood at 1,341 won at 9 a.m. on the 10th. It rose 4.9 won (0.36%) from the prior week's closing price. The weekly session ended the previous day at 1,336.1 won, the lowest in 1 year and 11 months, but it climbed back into the 1,340-won range.
There are projections that the rate could reach the 1,340-won range today. International oil prices topped $100 due to worsening tensions in the Middle East, and U.S. Government Bonds yields also rose. The won, in particular, tends to react sensitively to oil prices.
On the 9th (local time), Brent crude, the global benchmark, rose 3.36% from the prior transaction to $101.21 per barrel. It was the highest closing level since May 22. Brent topping $100 was the first time since July 23. The yield on the U.S. 10-year Government Bonds, the bellwether of the global Government Bonds market, exceeded 4.85% intraday, the highest since November 2023.
However, some say any increase in the rate will be limited. Strong semiconductor exports could keep major corporations selling dollars. Min Kyung-won of Woori Bank said, "Dollars earned by corporations are steadily being converted onshore even at the start of the month," adding, "The very trend of a continuing trade surplus is judged to be a positive signal for the won."