The won-dollar exchange rate surpassed the one-thousand-320 won mark for the first time in more than 13 years on Friday.

On the Seoul foreign exchange, the local currency traded at one-thousand-320-point-two won against the dollar at 9:07 a.m., up eight-point-one won from Thursday’s closing price.

The won-dollar rate exceeded the mark during trading for the first time in 13 years and two months since April 30, 2009, when it hit one-thousand-325 won to the dollar.

The rate climbed to the one-thousand-320 won range just seven minutes after the market opened before jumping further to one-thousand-322-point-four won, breaking the previous intraday high posted on Tuesday.

As of 3 p.m., the rate stood at one-thousand-324-point-nine won against the dollar.

The market’s preference for the U.S. dollar has become stronger amid the growing possibility that the Federal Reserve will accelerate hikes to curb inflation.