Dollar-Won Falls to 1,465.10 on July 28 as SK Hynix, Samsung Sell Dollars

According to Yonhap Infomax, the dollar-won exchange rate fell to 1,465.10 won on July 28 afternoon, down 3.40 won from the previous close of 1,468.20 won, as SK Hynix and Samsung Electronics sold large volumes of dollars. Foreign investors executed net sales of 3.7 trillion won in equities, triggering circuit breakers, while SK Hynix—which raised 26.5 billion dollars through an American Depositary Receipt listing—sold over 2 billion dollars in a single day, according to reporting. KB Kookmin Bank's chief economist noted that increased dollar conversion demand from semiconductor and shipbuilding sectors, combined with SK Hynix's ongoing dollar sales, is expected to maintain downward pressure on the currency.
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