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USD/KRW Plunges 29.70 Won to 1,498.50 on July 8, Hitting Lowest Level Since May 29

2026-07-08 13:58:26

According to Yonhapinfomax, the USD/KRW exchange rate plunged to 1,498.50 won on July 8, down 29.70 won from the previous close, marking its lowest level since May 29. Foreign investors switched to net buying after 14 consecutive trading days of selling Korean stocks.

The decline was driven by expectations of SK Hynix's U.S. ADR listing inflows, the company's forward exchange sales, estimated central bank smoothing operations, and position liquidations. The downward pressure eased during London trading hours following comments from U.S. President Donald Trump regarding an Iran ceasefire memorandum.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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