SK Hynix Continuously Sells USD From $26.5B ADR Proceeds, Pushes Dollar-Won to 1,481.30 on July 16

SK Hynix-11.52%
SKHY-8.93%
According to Seoul foreign exchange market reports, SK Hynix continued selling US dollars steadily on July 16 following its $26.5 billion ADR listing proceeds. The dollar-won exchange rate rose to a high of 1,488.80 in morning trading before declining to 1,481.30, pressured by SK Hynix's concentrated selling volumes. The chipmaker is sequentially converting the funds for domestic investment purposes, with further dollar sales expected to continue in coming weeks.
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