Woori Bank Lowers Dollar-Won Bottom Forecast to 1,340 Won

Woori Bank has lowered its forecast for the bottom of the dollar-won exchange rate from 1,380 won to 1,340 won. The selling of dollars by exporters and the potential return of foreign investment in stocks are expected to exert upward pressure on the won until early next year. Min Kyung-won, an economist at Woori Bank, predicts that the dollar-won exchange rate will rebound before declining again, stating that while a short-term correction is possible, the overall trend will continue to be downward. The report explains that the recovery in exports is the key background for the forecast of a declining exchange rate, noting that exports of major items such as semiconductors, computers, and wireless communication devices are showing strong trends. Economist Min added that the recovery of the export economy, a key fundamental for the won, will lead to a decline in the exchange rate until early next year. The flow of foreign capital is also presented as a major variable, with the expansion of artificial intelligence (AI) investments potentially increasing the attractiveness of won-denominated assets. However, there are also concerns that the exchange rate may decline again after a short-term rebound. Despite the forecast for a declining exchange rate, the actual path may be determined by the supply of export dollars and real demand.

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