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: 1,240 – 1,320 KRW per 1 USD

This week’s forecast:

Market-stabilizing measures taken by major economies as well as Korea are expected to help ease the market’s risk-averse sentiment this week. Furthermore, the U.S.-South Korea currency swap deal is forecast to strengthen the Korean won. But the continued global spread of the coronavirus, not only in Italy but in countries such as Spain and Germany is expected to support the rate’s bottom line.

Last week’s trend:

The Korean won-U.S. dollar (KRW-USD) exchange rate opened the week fluctuating greatly due to the U.S. Congress’s suggestion of a coronavirus stimulus package and Korea’s measures to stabilize the domestic market.

At mid-week, the KRW-USD rate dropped sharply after the U.S. Congress approved a historic coronavirus aid and amid positive expectations of the effects of the U.S.-Korea currency swap deal. At the end of the week, even though the Bank of Korea announced it would provide “unlimited liquidity” to financial institutions for the next three months, foreigners’ net selling on the Korean bourse increased amid rising corporate credit risk, and the exchange rate turned upward.

Despite a dramatic rise in U.S. jobless claims the previous day, risk-on sentiment grew amid rising global stock prices, and the KRW-USD rate closed out the week down.

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

Eat Like a Local: I Hwa Soo Traditional Yukgaejang in Marine City

Recently opened on the first floor at Hanil Ordew in Marine City, I Hwa Soo Jeontong Yukgaejang is a popular nationwide chain that serves up delicious modern and traditional bowls of spicy beef soup.
Busan
clear sky
14 ° C
14 °
14 °
28 %
2.6kmh
0 %
Tue
13 °
Wed
13 °
Thu
13 °
Fri
12 °
Sat
9 °

Dine & Drink

Eat Like a Local: I Hwa Soo Traditional Yukgaejang in Marine City

Recently opened on the first floor at Hanil Ordew in Marine City, I Hwa Soo Jeontong Yukgaejang is a popular nationwide chain that serves up delicious modern and traditional bowls of spicy beef soup.

Michelin Guide Hands Out Stars for 32 Seoul Restaurants

32 restaurants in Seoul have received Michelin Stars at the guide announced its highly regarded star selections for the capital, giving the much-coveted three stars to two Korean restaurants with unique cuisine and quality service

Travel