USD-KRW Holds Above 1,479 on July 21 Amid SK Hynix Forex Hedging Pressure

According to Yonhap News, on July 21, the Korean won traded at 1,479.60 against the U.S. dollar as of 11:09 a.m., up 1.20 won from the previous close of 1,478.40. The pair oscillated between a low of 1,475.50 and a high of 1,480.40, settling in the late 1,470s range amid mixed directional pressures.

SK Hynix's partial dollar conversion of 26.5 billion dollars (approximately 40 trillion won) raised through American Depositary Receipts (ADR) listings continued to weigh on the upside, while import-related dollar demand supported the downside. South Korea's exports surged 52.3% year-over-year to 53.9 billion dollars in the July 1-20 period, marking a record high for the same timeframe.