Korean Won – US Dollar Weekly FX Rate Forecast

Here’s this week’s forecast for the Korean won-US dollar exchange rate from KEB 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: 1,150 – 1,166 KRW per 1 USD

This week’s forecast:

With less uncertainty after the U.S. and China reached a phase 1 trade deal, the U.S. economy is generally showing positive indicators, and the KRW-USD exchange rate is expected to rise above the KRW 1,160 level, affected by the strong greenback.

Last week’s trend:

The Korean won-U.S. dollar (KRW-USD) exchange rate opened the week down, due to increased net buying by foreigners amid forecasts about the U.S. and China reaching a ‘phase 1’ trade deal.

Later on, the KRW-USD exchange rate moved in line with the Chinese renminbi, which strengthened on the U.S.’s decision to remove China from its currency manipulator list. At mid-week, despite expectations about the U.S. and China striking a phase 1 trade deal, the U.S.’s decision to keep existing tariffs in place turned the rate upward.

The upward trend then continued, affected by news that the U.S. and China had inked the deal, and by concerns about Washington and Beijing’s phase 2 trade agreement. At the end of the week, the rate turned downward due to the Bank of Korea Monetary Policy Board’s hawkish decision to leave the base rate unchanged, but the minority opinion’s insistence on a rate cut limited the downward trend.

Disclaimer: Neither KEB 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.

KEB Hana Bankhttps://www.kebhana.com/easyone_index_en.html
Voted the best bank in Korea by Global Finance, KEB Hana Bank strives to be the leader in banking services offering signature expat services in a variety of languages.

Subscribe to our newsletter

Twice-weekly updates to your inbox

The Latest

ESR-Kendall Square, 아시아-태평양 최초로 물류 센터 WELL Gold등급 인증 및 LEED Gold 인증 획득

굴지의 아시아-태평양 물류 플랫폼이자, 한국 최대의 물류센터 개발 및 운영회사인 ESR Cayman Limited (이하 "ESR"; SEHK 증권코드: 1821)는 한국 켄달스퀘어 부천로지스틱스파크를 대상으로 하여 아시아-태평양 지역 최초의 WELL Gold 등급 인증을 받았다.
broken clouds
10.6 ° C
11 °
10 °
53 %
75 %
11 °
11 °
11 °
10 °
10 °

Dine & Drink

Park Hyatt Holding a Special Lunar New Year Dinner Buffet January 24-26

The Park Hyatt in Marine City is hosting a special "Lunar New Year Dinner Buffet" featuring traditional Korean dishes and a variety of items at its Steak & Seafood grill restaurant "Dining Room".