Business · Markets · 2 hrs ago
Dollar-Won rate edges up after three days of yearly lows
The dollar-won exchange rate rose to 1,327.7 won in Seoul on the morning of October 22, up 2.5 won from the previous close.
It had fallen to 1,322.8 won the day before, setting a new yearly low for three days in a row.
Some buyers stepped in to purchase dollars at the lower rate, helping it rise slightly.
But lower oil prices and bond yields kept pressure on the rate: oil fell on hopes for a US-Iran ceasefire deal, while US Treasury yields also edged down.
South Korea’s central bank was due to decide its policy rate that morning, with a pause widely expected after two consecutive increases.
Markets expected the Bank of Korea to keep open the possibility of another increase this year, a stance that could push the exchange rate lower.
An economist quoted in the story said it could move toward 1,320 won, though bargain buying and lower volatility may limit the fall.
The dollar-won exchange rate edged up 2.5 won to 1,327.7 won at 9 a.m. in Seoul on October 22.
The rise followed low-price buying of dollars after the rate had set yearly lows for three consecutive days.
The rate had fallen to 1,322.8 won the previous day.
Oil prices and US Treasury yields were lower, while US stocks rebounded.
The Bank of Korea was due to announce its policy rate decision that morning, with a hold widely expected.
- Who
- Dollar buyers and participants in the dollar-won foreign exchange market.
- What
- The rate rose 2.5 won to 1,327.7 won.
- When
- At 9 a.m. on October 22, 2026.
- Where
- The Seoul foreign exchange market.
- Why
- Low-price buying of dollars followed three consecutive days of yearly lows.
This story does not have two clearly opposing sides.
The dollar-won rate set yearly lows for three days in a row.
The rate fell to 1,322.8 won, setting a yearly low for the third consecutive day.
The rate stood at 1,327.7 won, up 2.5 won from the previous day's daytime closing rate.
The Bank of Korea's policy rate decision was scheduled to take place.
- Exchange rate
- 1,327.7 won per dollar at 9 a.m. on October 22
- Change
- Up 2.5 won from the previous day's daytime closing rate
- Previous day's low
- 1,322.8 won
- Yearly lows
- Set for three consecutive days
- Bank of Korea decision
- Due on the morning of October 22
1 source
What people are saying
The market expects the Bank of Korea to hold its policy rate, but it is expected to be somewhat hawkish, and with downward pressure still weighing on the dollar-won rate, including a fall in short-term dollar-won swap points, the rate could fall to around 1,320 won
However, volatility is expected to narrow and low-price buying is also expected, so the decline is not expected to be large