USD/KRW Hits 1,470.90 on July 28, Up 2.4 Won as Stock Rout Spurs Dollar Demand

NVDA0.23%
According to Yonhapinfomax, the USD/KRW exchange rate rose to 1,470.90 won as of 9:16 a.m. on July 28 in Seoul, up 2.40 won from the previous day's closing of 1,468.50 won. The move reflected weakness in Asian equities and dollar strength ahead of the Federal Reserve's monetary policy meeting. Nvidia plunged 4.99% overnight, dragging the Philadelphia semiconductor index down 2.23% and triggering selling pressure in South Korean equities, with both Kospi and Kosdaq triggering circuit breakers. Persistent foreign investor outflows across three consecutive trading sessions fueled demand for dollars in the forex market.
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