The Recent Won-Dollar Exchange Rate
As the won-dollar exchange rate has recently rebounded, there is an analysis that the index decline has increased due to the outflow of foreign funds.
According to market points on the 24th, around 2:34 pm on the day, the KOSPI is trading at 2275.54, down 58.69 points (2.52%) from the previous trading day. At the same time, the KOSDAQ fell 35.10 points (4.16%) to 808.35, with a larger decline.
This can be interpreted as a result of the recent rebound of the exchange rate as a strong dollar phenomenon occurred. The recent won-dollar exchange rate closed at 1158 won on the 21st and fell below the 1160 line in 8 months, but recovered 1160 won the next day and surpassed the 1170 won level on that day.
Lee Kyung-min, a researcher at Daishin Securities, said, “It seems that the weakening of the New York stock market is largely affected by the domestic stock market on this day.” He added, “As the Chinese stock market has also fallen by more than 1%, today the market is expected to end in a downtrend rather than make up for the decline.”
A researcher at a securities company also said, “This month, as the exchange rate declines, foreigners are coming back. It is a good market, so foreigners respond easily at that time.
The Recent Won-Dollar Exchange Rate - /10