Won-Yen exchange rate falls to the 800 won range per 100 yen for the first time in 1 year and 8 months
We look at the background and outlook behind the decline in the won-yen exchange rate, which has fallen to the 800 won range per 100 yen. Quickly check the strengthening of the won and the weakening of the yen, and take a look at market changes.
As the strong won and weak yen overlapped, on the 23rd the won exchange rate against the yen fell into the 800 won range per 100 yen. This is the lowest level in about 1 year and 8 months since November 2024.
At 3:30 p.m. that day, the wonyen exchange rate stood at 899.46 won, down 7.96 won from the previous day. The won also strengthened against the dollar, with the wondollar exchange rate falling to 1,466.8 won.
According to the article, South Korea's secondquarter growth rate exceeded market expectations, and foreign investors' purchases of Korean stocks and domestic capital inflows affected the won's strength. On the other hand, in Japan, with the interestrate gap with the U.S. remaining large, expectations for the Bank of Japan's gradual interestrate hikes and an expansionary fiscal stance are continuing, and the weak yen is persisting.