Won-Dollar Exchange Rate Rises 10.8 Won to 1,524.2 Amid Fed's Signal for Rate Hikes

The won-dollar exchange rate climbed back into the 1,520-won range today (June 18) after the U.S. Federal Reserve signaled potential interest rate hikes.

In the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,524.2 won as of 9:20 a.m., up 10.8 won from the previous day's closing price (as of 3:30 p.m.).

The exchange rate opened at 1,525.0 won, up 11.6 won, and has been fluctuating within the 1,520-won range.

Overnight, the Federal Reserve held its benchmark interest rate steady at its first Federal Open Market Committee (FOMC) meeting under the leadership of new Chair Kevin Warsh.

While the Fed kept the benchmark rate at 3.50–3.75%, it signaled through its dot plot and other communications that its future monetary policy path has shifted from rate cuts to rate hikes.

As a result, the dollar showed strength.

The dollar index, which measures the value of the dollar against six major currencies, stood at 100.268 as of 9:08 a.m. Although this was a 0.121 decrease from the previous day, it remained above the 100 mark.

The won-yen cross rate was at 948.59 won per 100 yen as of 9:08 a.m., up 5.33 won from the previous trading day's closing price at 3:30 p.m.

The yen-dollar exchange rate was recorded at 160.599 yen, down 0.02%.
※ Please note: This article was translated by AI and may contain errors.