I put out the lights in a hurry, but...Exchange rate instability and foreigners' exodus 'continued'

I'm still nervous, but...Financial authorities are "looking for stability"
Soars to KRW 1,440 on the day of the martial law declaration...Relieves Fear
Put out urgent fire due to government intervention such as liquidity supply
Experts said, "The market stabilizes quickly due to government intervention...Variables"

[Anchor]
The value of the won, which plunged due to the emergency martial law shock, is stabilizing due to government intervention.

Although the urgent fire has been extinguished, foreign investors have continued to leave the country due to external uncertainties amid political instability such as the entry of impeachment.

I'm reporter Lee Hyungwon.

[Reporter]
The won-dollar exchange rate was trading at 1,415 won, up 5 won as of 3:30 p.m.

This is the highest level since November of last year.

Although still uneasy, the financial authorities assessed that they were looking for stability.

This is because the fear that reached its peak, which soared to the 1,440 won level in night trading on the day of the emergency martial law's declaration, has disappeared.

Analysts say the urgent fire has been extinguished as the government actively intervenes, such as supplying liquidity until the financial market calms down.

Lee Chang-yong, governor of the Bank of Korea, also said the market stabilization measures have worked and expected the exchange rate to fall slowly without a new shock.

Experts also said the market quickly regained stability due to government intervention, but
The variable was how much political uncertainty would continue, such as entering the
impeachment political situation.

On top of that, U.S. Federal Reserve Chairman Jerome Powell's suggestion of a pace of rate cuts could also bring down the won's value.

This is because the exchange rate soared due to the U.S. interest rate hike during the impeachment of former President Park Geun Hye in 2016.

[Moon Jung-hee / KB Kookmin Bank senior researcher: That's why we're raising the top by reflecting risk aversion sentiment and risk against the won, and 1,435 won (as of 3:30 p.m.) didn't reflect a bit of risk....]

Foreigners are continuing to leave our stock market due to the risk asset avoidance sentiment.

The KOSPI fell to the 2,440 level after taking out more than 700 billion won in investment for two days, and its market capitalization collapsed below 2,000 trillion won.

I'm Lee Hyungwon of YTN.

Photographer: Kim Kwang-hyun
Design: Lee Na-eun