The won-dollar exchange rate is fluctuating in the 1410 won range.
As of 9:46 a.m. on August 14, the exchange rate in the Seoul foreign exchange market is 1,416.9 won per US dollar. The rate was trading at 1,418.6 won, down 0.8 won from the previous day's closing price as of 6 a.m.
Overnight, US stock markets saw all three major indices rise. The Dow Jones Industrial Average closed up 69.72 points (0.13%) at 53,839.99.
The Standard & Poor's (S&P) 500 index rose by 50.49 points (0.65%) to finish at 7,798.99, while the Nasdaq Composite Index increased by 214.54 points (0.81%) to close at 26,803.03.
International oil prices fell. October futures for Brent crude and September futures for West Texas Intermediate (WTI) closed down 2.15% and 2.43%, respectively, at $87.07 and $81.25 per barrel.
The dollar index, which measures the value of the dollar against six major currencies, decreased by 0.06% to 99.91.
The exchange rate is expected to decline further. Min Kyung-won, an economist at Woori Bank, stated, "We anticipate a weaker dollar reflecting reduced bets on consecutive interest rate hikes by the Federal Reserve, leading to a recovery in risk appetite."
He added, "With significant foreign net buying, the offshore custody selling to handle customer currency exchange demand could drive further declines in the early trading today, following yesterday's trend."
* This article has been translated by AI.
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