The October average for the won-dollar rate was KRW 1,342.6, its lowest level in 2 years and 1 month. The won-yen rate hit a 19-year low, partly due to the yen's weakness against the won.
Against a backdrop of expanded dollar supply driven by strong semiconductor exports, the won-dollar exchange rate fell to its lowest level in 2 years and 1 month. This article presents the October average, monthly movements and the record low in the won-yen rate in chronological order.
The average over October's 10 trading days was KRW 1,342.6, the lowest level in 2 years and 1 month since the September 2024 average of KRW 1,332.8. On the 16th, it fell to KRW 1,328.9, setting a new low for the year. The monthly average moved from KRW 1,488.9 to KRW 1,404.4, and fell to KRW 1,358.8 in September.
The October average for the won-yen rate was KRW 849.0, its lowest level since December 2007. On the 12th, it fell to KRW 839.91, reaching its lowest level since 2 January 2008. Experts cited expanded dollar supply and trends in semiconductor-related sectors as factors, and referred to upward pressure from the perspective of exchange-rate stability.
Looking ahead, some expect the rate to fall to the KRW 1,320 range by year-end, while others project increased volatility depending on US interest-rate trends and South Korean export performance.