Is USDKRW a Buy, Sell or Hold?
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USDKRW Exchange Rate
Provider: USDKRW
Verdict: USDKRW is one of the most volatile currencies for longer term forex traders and the Korean Won can move dramatically against the US Dollar. During the 2008 financial crisis the USD soared by 77% versus the KRW.
Why buy USD over KRW:
While South Korea is one of the largest economies in the world, it is primarily an export economy. Annual export growth during 1988-2022 averaged 8.9 percent. Understandably when the global economy slows, the Won suffers setbacks. The rate depreciated against USD from 1100 in 2021 to 1400 in 2022. This year, the rate is stuck in a range (1220-1360) with a downward bias against the Won. 24/11/23
Pros
- Sentiment bullish on USD
- Stronger US economy
- Uncertain regional growth
Cons
- Overbought USD
- Trade balance may swing favourably for KRW
- Asian trade may rebound
- Outlook (4)
Overall
4USDKRW Analysis & Guides
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