The South Korean won weakened to around 1,510 per dollar, reversing gains from the previous session, pressured by a firmer US dollar as geopolitical uncertainty and rising oil prices. Market sentiment was weighed by ongoing volatility around US-Iran negotiations, with President Donald Trump saying Washington remained “not satisfied” with talks, while conflicting reports on a possible reopening of the Strait of Hormuz added to uncertainty. Brent crude’s move back toward $96 per barrel further pressured the won, given Korea’s high energy import dependence and sensitivity to external price shocks. Meanwhile, domestic policy signals offered only partial offset, as the Bank of Korea kept its policy rate unchanged at 2.5% for an eighth straight meeting. While the central bank upgraded its growth outlook on stronger semiconductor exports, it also flagged persistent inflation and currency weakness risks, reinforcing expectations for a cautious policy stance going forward.
The USD/KRW exchange rate fell to 1,496.0400 on May 28, 2026, down 0.42% from the previous session. Over the past month, the South Korean Won has weakened 0.50%, and is down by 9.09% over the last 12 months. Historically, the USDKRW reached an all time high of 1995.00 in December of 1997. South Korean Won - data, forecasts, historical chart - was last updated on May 28 of 2026.
The USD/KRW exchange rate fell to 1,496.0400 on May 28, 2026, down 0.42% from the previous session. Over the past month, the South Korean Won has weakened 0.50%, and is down by 9.09% over the last 12 months. The South Korean Won is expected to trade at 1515.86 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1474.57 in 12 months time.