In the morning of the day, the won-dollar exchange rate fell 6.10 won as soon as the market opened, reflecting foreign net-buying of Korean stocks after the U.S. Fed's announcement on the 18th that it would maintain its quantitative easing stance for a while. Foreign investors on the same day net-bought 300 billion won worth of stocks, continuing a 19-day rally of net-buying.

 

Kim Seong-soon, head of the fund management division with Industrial Bank of Korea, said, "If the U.S. government debt ceiling negotiations are delayed, the won value will gain further vis-a-vis the dollar. By the year's end, the exchange rate will likely hover around 1,060-1,100 won."