Closes at 1,467.9 amid Federal Reserve rate speculation and yen weakness

The won-dollar exchange rate closed at 1,467.9 won on the 20th, up 2.3 won from the previous day.

The rate opened 1.8 won higher at 1,467.4 won and later reached an intraday high of 1,470.1 won during afternoon trading. This marked the first time in four trading days that the exchange rate surpassed the 1,470 won level.

The day's upward movement appears driven by strengthened speculation, following the release of the October U.S. Federal Open Market Committee (FOMC) meeting minutes the previous day, which suggested the Federal Reserve would likely hold interest rates steady in December. According to the minutes, 'many' participants expressed concerns over inflation and advocated maintaining the current interest rate level.

The continued weakness of the Japanese yen is also seen as a contributing factor. The yen's depreciation, which accompanies dollar strength, exerts downward pressure on the won.