Won Rises 2.4 Points to 1,385.7 as Import Demand Lifts Rate
The Korean won strengthened slightly against the dollar, with importers driving buying pressure that offset chipmaker sales.
Key points
- Won-dollar rate rose 2.4 won to 1,385.7 on the 21st.
- Importer dollar demand offset sales from major semiconductor firms.
- Foreign net stock selling in Korea shrank to support the won.
The won-dollar exchange rate closed at 1,385.7 won on the 21st. This marks a 2.4 won increase from the previous session.
Market observers expect the rate to remain within the 1,380-won range. Tight balance in supply and demand supports this stability.
Importer demand drives rate higher
Importers buying raw materials overseas created significant dollar demand. This pressure pushed the exchange rate upward during the session.
Overseas stock investors also contributed to the rise. Their need for dollars to settle trades added to buying pressure.
Chipmakers and foreign flows balance
Major semiconductor firms sold dollars to offset importer demand. Approaching Chuseok holidays accelerated these corporate currency sales.
Foreign investors reduced net stock selling in Korea. This shrinking outflow provided additional support for the won's value.
Market outlook remains balanced
Woori Bank analysts noted the tight supply-demand balance. Real demand flows from multiple fronts keep the rate stable.
Chosunbiz reported that no major changes are expected. The rate will likely hold its current level.
