The won-dollar exchange rate jumps to 1,399.7 won due to Trump's dominance

The won-dollar exchange rate soared to 1,399.7 won during the day on reports that Republican candidate Trump is ahead in the U.S. presidential election.

The local currency opened 4.6 won lower at 1,374.0 won against the U.S. dollar in Seoul's foreign exchange market, but reversed course and surged to 1,399.7 won at 12:03 p.m., close to 1,400 won.

Since then, the won-dollar exchange rate has slowed slightly, reaching 1,396.2 won as of 3:30 p.m.

won-dollar exchange rate fell to 1,375.1 won The daily fluctuation reached 25 won, rising to 1,399.7 won.

If Trump is elected, the market expects inflation to worsen due to higher tariffs, raising interest rates and strengthening the dollar.