The won-dollar exchange rate topped the one-thousand-310 won mark just minutes after the market opened on Wednesday.

On the Seoul foreign exchange, the local currency began trading at one-thousand-308-point-five won against the dollar, up eight-point-two won from the previous day. Just two minutes later, the rate surged up to one-thousand-311 won.

The figure was the highest posted since July 13, 2009, when the rate climbed to one-thousand-315 won. It also broke the previous intraday high of one-thousand-303-point-seven won posted just four business days ago.

As of 10:30 a.m. on Wednesday, the won-dollar exchange rate stood at one-thousand-307-point-40 won, down four-point-10 won, or zero-point-31 percent, from Tuesday.

Earlier on Tuesday, yields on two-year U.S. government bonds outpaced those on ten-year notes for the third time this year, raising fears of a potential economic recession.