Won-dollar exchange rate fluctuates due to political chaos

[Anchor]

The economy is looking bleak due to the chaotic political situation.

The biggest concern is the soaring won-dollar exchange rate.

Today (12.27), it briefly rose to 1,486 won per dollar.

We will take a closer look at the urgent issue of the exchange rate.

First, reporter Hwang Hyun-kyu.

[Report]

Today, the foreign exchange market experienced a day of extreme fluctuations.

The closing price yesterday (12.26) was 1,464 won.

As soon as the market opened at 9 AM, it surpassed 1,470 won within 15 minutes, broke through 1,480 won around 11 AM, and reached 1,486 won.

It even threatened to hit the 1,490 won mark.

In the afternoon, it calmed down somewhat, finishing the day at 1,467 won, which is just over 2 won higher than yesterday.

The daily fluctuation was nearly 20 won.

The increase seen in November occurred in just one day.

Last week's sharp rise in the exchange rate had the U.S. Federal Reserve as a pretext.

However, this week's movements appear to be primarily due to domestic factors.

From Monday to today, the exchange rate has risen for four consecutive trading days, increasing by more than 20 won, while the yuan and yen against the dollar have remained almost unchanged during the same period.

It was a week where politics shook the exchange rate.

[Baek Seok-hyun/Economist at Shinhan Bank: "This week, the sentiment towards the won has weakened purely due to the domestic political chaos, leading to increased selling of the won."]

It is uncertain when the domestic political uncertainty will be resolved.

As the new year approaches, with Trump’s second term looming, the 'strong dollar' could strengthen further.

If the exchange rate exceeds 1,500 won per dollar within this month, the exchange rate for December will have risen by 100 won.

This is KBS News, Hwang Hyun-kyu.