Business · Markets · 1 hr ago

Won-dollar rate edges higher as oil prices rise

Won-dollar rate edges higher as oil prices rise

The exchange rate between the South Korean won and the US dollar edged higher.

The story’s headline gives a rate of 1,336.1 won per dollar, while its text says it was 1,338.1 won around 9 a.m.

The text says the rate was up 0.3 won from the previous trading day’s daytime close.

It says the rate could rise slightly during the day.

The article links that outlook to worsening tensions in the Middle East and international oil prices rising for three trading sessions in a row.

Higher oil prices can push up inflation, which may support a stronger dollar.

The story does not say what happened to the rate later in the day.

Sources

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