![]() ![]() Park Sang-hyun, an analyst at Hi Investment & Securities, viewed that the won-dollar exchange may get to the 1,200-won range in the second quarter. "Taking into account the won's recent strength compared to a couple of months earlier, I'd say it can go up to as high as 1,220 per dollar this year," said Ha Kun-hyung, an economist at Shinhan Investment Corp. The Korean won rose to 1,234.5 per dollar at one point during intraday trading, Friday. The optimistic outlook on the won-dollar exchange rate came as the Korean currency climbed 4.5 won from the previous trading session and closed at 1,241.3 won per dollar, Friday.įriday's close marked the highest level since at 1,237.2 won, when the Fed ended its near-zero rate policy and started accelerating its pace of credit tightening. It weakened to a 13-year-low of more than 1,400 won per dollar in the fourth quarter of 2022. The outflow of foreign capital drove the depreciation of the Korean won in 2022. They noted China's return to normalcy campaign is already prompting a return of foreign investors to the financial markets in China's neighboring countries, including Korea, after they previously pulled out their money in search of safe-haven assets. The analysts forecast that China will get its economy back on track on after years of strict zero-COVID policies, which also raises hope for the Korean currency to get stronger against the greenback. inflation is cooling down and the hawkish Federal Reserve is on track to slow the pace of interest rate hikes. dollar and may rise to the low 1,200-won range per dollar, according to multiple analysts, Sunday, as U.S. The Korean won is anticipated to keep bouncing back against the U.S. ![]()
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