The won-dollar exchange rate remains above 1540 won.
As of 9:27 a.m. on June 30, the exchange rate in the Seoul foreign exchange market is 1548.6 won per U.S. dollar. The rate opened at 1543.1 won, down 2.1 won from the previous session.
The continued strength of the dollar has kept the exchange rate from falling below the 1540 won level. The dollar index, which measures the dollar's value against six major currencies, currently stands at 101.16.
International oil prices have risen. August futures for Brent crude are up 1.6%, trading at $73.15 per barrel, while August futures for West Texas Intermediate (WTI) increased by 2.2% to $70.75 per barrel.
Oil prices have shown increased volatility due to rising tensions in the Strait of Hormuz, despite the signing of a ceasefire memorandum of understanding (MOU) between the U.S. and Iran on June 17.
U.S. stock markets closed higher overnight. The Dow Jones Industrial Average rose by 306.63 points (0.59%) to finish at 52,182.74, marking the first time it has surpassed the 52,000 mark.
The S&P 500 index increased by 86.41 points (1.18%) to close at 7,440.43, while the Nasdaq Composite gained 522.53 points (2.07%) to end at 25,820.14.
In the domestic stock market, foreign investors are showing a selling trend. At the same time, foreign investors have net sold 811.4 billion won in the KOSPI market.
The exchange rate is expected to close lower today. Min Kyung-won, an economist at Woori Bank, stated, "With the end of the half-year approaching, we anticipate a drop due to the influx of supply from importers and concerns over stabilization measures from the foreign exchange authorities. The buying momentum from the New York stock market overnight is likely to positively influence the domestic market, helping to curb the depreciation of the won."
* This article has been translated by AI.
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