Appreciation of Korean won to hurt exporters further

 

 

The value of the Korean won against the U.S. dollar rose sharply in July, recording the highest appreciate rate out of 27 leading currencies. According to data by the Bank for International Settlements, the real effective exchange rate of the Korean currency stood at 116-point-nine-three last month, up two-point-two-six percent from the previous month. Korea topped the list in terms of appreciation rate, followed by Australia, Japan and New Zealand. The steep rise is attributed to a possible U.S. rate hike in the coming months, the nation’s upgraded sovereign credit rating and increased foreign investment funds. The strengthening won is expected to hurt Korea’s declining exports further, which already posted the longest consecutive monthly decline in July.

 

 

 

7월 달러대비 원화가치가 급격히 상승해 주요 27개 통화 중 가장 높은 상승률을 기록했습니다. 국제결제은행의 자료에 따르면 실질실효환율거래는 지난달 116.93으로 전월보다 2.26% 올랐습니다. 환율상승 부분에서 한국은 수위를 차지했으며 호주, 일본, 뉴질랜드가 그 뒤를 이었습니다. 급격한 원화절상은 다가오는 수개월내 이뤄질 수 있는 미국의 금리인상, 국가 신용등급 상승 그리고 외국인 투자자금의 증가에 기인합니다. 이미 7월에 가장 긴 장기침체를 기록한 한국의 수출부진은 원화강세로 인해 더욱더 악화될 것으로 예상됩니다.

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