Korean Won – US Dollar Weekly FX Rate Forecast

Here’s this week’s forecast for the Korean won-US dollar exchange rate from Hana Bank.

The weekly forecast is neither a guarantee nor a promise of accuracy and is intended to give our readers information on the forecasted foreign exchange rate from the bank each week.

Check out the most up-to-date foreign currency exchange rates for over 40 currencies here.


Trading range: 1,183 – 1,193 KRW per 1 USD

This week’s forecast:

The greenback is forecast to remain strong this week, with tech stocks falling on the New York Stock Exchange and global uncertainties remaining; the KRW-USD exchange rate is expected to move upward accordingly. Moreover, continuing tensions between the U.S. and China over possible U.S. sanctions on Chinese microchip maker SMIC is expected to strengthen the greenback. Nevertheless, expanding dollar-selling volume is forecast to limit the rate’s upward trend this week. 

Last week’s trend:

The Korean won-U.S. dollar (KRW-USD) exchange rate opened the week up, amid a bearish greenback and an increase in foreigners’ net selling on the Seoul bourse. The KRW-USD rate then moved in line with strengthened Asian currencies.

At mid-week, the rate moved in line with the weakened Chinese yuan, but the Australian GDP’s posting below market expectations pushed the KRW-USD rate upward. At the end of the week, eurozone inflation turned out to be lower than expected, and the U.S. dollar gained strength.

The dollar then maintained its bullish stance amid persisting global uncertainties, and the KRW-USD exchange rate ultimately closed the week up. 

Disclaimer: Neither Hana Bank nor Haps Korea shall accept any liability for any damage or loss, including but not limited to profit or loss, that may arise either directly or indirectly from use of this information.

 

blank
Haps Staff
Is there something you'd like to see featured in Haps? Drop us a line: [email protected]

Subscribe to our newsletter

Twice-weekly updates to your inbox

The Latest

Local Schools Look to Help Chuseok Parking Problems

According to the Busan Metropolitan City Office of Education, 440 parking lots at 419 schools and 21 institutions will be open for free for 5 days until the 4th of October during the Chuseok holiday.

부산의 특색을 품은 문화체험장 발굴! 관광 경쟁력 강화!

부산시 부산을 방문하는 외국인 관광객에게 한국의 전통 및 부산의 특색을 알리기 위해 「2021~2022년 부산시 품질인증 문화체험장」을 선정해 관광상품으로 육성한다고 밝혔다.

City Office to be Closed During Chuseok Holiday

Busan City Hall will be closed during the Chuseok holidays, from Wednesday, September 30 to Sunday, October 4, and reopen at 9:00 a.m. on Monday, October 5, 2020..
Busan
clear sky
16 ° C
16 °
16 °
77 %
1.5kmh
0 %
Wed
19 °
Thu
22 °
Fri
23 °
Sat
23 °
Sun
23 °

Dine & Drink

California Pizza Kitchen Opens in Daegu

California Pizza Kitchen has opened up its first location outside of the capital with a new location at Shinsegae Department Store in Daegu.

Travel