USD/KRW Falls 13.3 Won to 1,466.8 on Better-Than-Expected Alphabet Earnings and Korea GDP Growth

SKHY-3.86%
SKHYV-0.98%

According to News1, the USD/KRW exchange rate fell 13.3 won to close at 1,466.8 on July 23, as Alphabet's better-than-expected Q2 results and South Korea's Q2 GDP growth of 0.6% (exceeding the 0.4% forecast) lifted risk appetite and bolstered the Korean won.

Foreign investors net-bought 2.135 trillion won of KOSPI stocks, and export companies engaged in dollar selling, both adding downward pressure on the dollar. The announcement of SK Hynix's U.S. listing also supported the won by increasing dollar supply expectations.

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