As of March 18, 2022, 1 US dollar = 1213.03 Korean won, 1 Korean won ≈ 0.0008 US dollars. The data is for reference only, and the transaction price at the bank counter shall prevail during transactions.
1. Impact of the U.S. Dollar Index
1. The U.S. dollar is the legal currency of the United States of America. Since it is the currency with the largest circulation in the world, many countries regard the U.S. dollar as a balance of international payments. The reserve currency is widely used, so the US dollar has become the base currency in global foreign exchange exchanges and the main currency in international payments and foreign exchange transactions. It occupies a very important position in the international foreign exchange market.
2. The U.S. dollar index is an indicator that comprehensively reflects the exchange rate of the U.S. dollar in the international foreign exchange market. It is used to measure the exchange rate changes of the U.S. dollar against a basket of currencies. It measures the strength of the U.S. dollar by calculating the combined rate of change of the U.S. dollar and a selected basket of currencies, each of which has a different weight in the U.S. dollar index: 57.6% for the euro, 13.6% for the yen, and 11.9% for the pound. , the Canadian dollar is 9.1%, the Swedish krona is 4.2%, and the Swiss franc is 3.6%. Analysis of the trend of the U.S. dollar index can indirectly reflect the United States' export competitiveness and changes in import costs.
3. The rise in the U.S. dollar index means that the price ratio between the U.S. dollar and other currencies has increased. That is to say, the U.S. dollar has appreciated. Then the major international commodities are priced in U.S. dollars, so the corresponding commodity prices should fall. An appreciation of the U.S. dollar is good for the country's entire economy, increasing the value of its currency and increasing its purchasing power. But it also has an impact on some industries, such as the export industry. Currency appreciation will increase the price of export commodities, thus affecting the export commodities of some companies. If the US dollar index falls, the opposite will be true.
2. Exchange rate
1. Exchange rate (also known as foreign exchange rate, foreign exchange rate or foreign exchange market) The exchange rate between two currencies can also be regarded as the currency of a country Value against another currency. Exchange rate is a financial means used by various countries to achieve their political goals. Exchange rates can change due to factors such as interest rates, inflation, national politics, and the economy of each country. The exchange rate is determined by the foreign exchange market. The foreign exchange market is open to different types of buyers and sellers for extensive and continuous currency transactions (foreign exchange transactions are conducted 24 hours a day except weekends, that is, from 8:15 GMT time on Sunday to 22:00 GMT time on Friday. Spot The exchange rate refers to the current exchange rate, while the forward exchange rate refers to the exchange rate quoted and traded on the day but paid at a specific date in the future).
2. The rise and fall of a country's foreign exchange market will have an impact on import and export trade, economic structure, production layout, etc. The exchange rate is the most important adjustment lever in international trade. A decline in the exchange rate can promote exports and inhibit imports.