Seoul: The won-dollar exchange rate fell to the 1,300 won range for the first time in 10 1/2 months Wednesday, amid expectations that the U.S. Federal Reserve will keep its benchmark interest rate unchanged, along with increased dollar selling by exporters. The won was trading at 1,399 won to the U.S. dollar as of 12:02 pm in Seoul's foreign exchange market.

According to Yonhap News Agency, the rate opened at 1,413.3 won and continued to decline throughout the session. Market analysts attribute the drop to the anticipation that the U.S. Federal Reserve will maintain its current interest rate, reducing the demand for the dollar. Additionally, exporters have been actively selling dollars, contributing to the won's strengthening.

The recent activity in the foreign exchange market reflects a broader trend influenced by global economic factors. The stability in the U.S. interest rates is seen as a significant factor affecting currency markets worldwide. As a result, the won's appreciation against the dollar is being closely monitored by economic analysts and investors.