KOSPI at 2040 Highest yet This Year, Exchange Rate at 1,066 Won

The domestic stock market hit the highest point this year yesterday. Expectations toward the negotiation on the US raising the debt ceiling being settled pulled up the KOSPI points. The exchange rate dropped to 1,066 won per dollar, which is the lowest in nine months, due to the inflow of foreign buying. 

On October 15, the KOSPI reached 2040.96 which is 20.69 points (1.02%) higher than the previous day. This is the highest it has been in 18 months, based on closing prices, since April 3 of last year (2049.28). Also, during the day, the KOSPI soared all the way to 2045.50, breaking the record of 2042.48 recorded on January 3 of this year. 

In the Seoul foreign exchange market, the exchange rate started at 1070.40 won per dollar, which was 1.10 won less than that of the previous day, and ended up at 1066.80 after dropping 4.70 won. This is the lowest it has been in nine months, since 1066.20 won recorded on January 23 of this year.