USD/KRW Falls to 1,505.50 on July 10, Down 0.60 Won as BOK Officials Intervene

According to Yonhap Infomax, the Korean won strengthened against the U.S. dollar on July 10, with the USD/KRW rate falling to 1,505.50 as of 11:12 a.m. Seoul time, down 0.60 won from the previous close of 1,506.10 won.

The currency retreated after South Korea's Deputy Minister for International Economic Affairs Moon Ji-sung stated that current exchange rates remain disconnected from economic fundamentals, with the central bank actively monitoring forex markets since early June. Meanwhile, SK Hynix began conditional trading of its ADR on Nasdaq under ticker 'SKHYV' on July 10 at a public offering price of $149 per share, with regular trading to commence on July 13, supporting dollar supply expectations.