USD-KRW Falls to Below 1,460 Won on July 23, Lowest Since May 7

According to Yonhapinfomax, the USD-KRW exchange rate fell to 1,466.60 won as of 3:30 p.m. on July 23 in the Seoul market, down 0.20 won from the previous close of 1,466.80 won and marking the lowest level since May 7. The currency declined 7.60 won compared to the New York session close of 1,474.20 won.

The weakness was driven by aggressive dollar-selling from exporters ahead of month-end and the weekend, alongside a broader decline in the dollar index and USD-JPY, which fell after Bank of Japan Finance Minister Katayama Satsuki reiterated Tokyo's readiness for foreign exchange intervention. While domestic equities declined 5.72%, foreign investors sold 3.27 trillion won of shares, market participants continue monitoring next week's U.S. Federal Reserve decision.