Dollar-Won Rate Falls Below 1,480 Won for Fifth Consecutive Day as SK Hynix Accelerates Currency Conversion

SKHY13.73%
SKHYV-0.98%
According to Yonhap Infomax, the dollar-won exchange rate fell below 1,480 won on July 21, marking the fifth consecutive day of decline. SK Hynix has begun converting 26.5 billion dollars raised through its ADR listing into Korean won for domestic investment. Market participants cited the company's substantial and ongoing dollar supply as a major factor driving the currency's weakness, with some analysts predicting the rate could fall further to 1,450 won.
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