Korean Won Pauses Slide After Hitting 1,500

2026-03-04 02:59 By Mariene Camarillo 1 min. read

The South Korean won steadied to around 1,477 per dollar, halting a sharp selloff that had driven it to a 17-year low, as authorities intensified oversight of currency markets amid escalating geopolitical tensions.

Earlier in offshore trading, the won briefly pierced the 1,500 threshold, a level last seen in March 2009, before stabilizing as markets reassessed liquidity conditions and official signals.

The central bank emphasized that current conditions are unlike past crises.

It noted that dollar liquidity remains ample, and external risk gauges, including sovereign borrowing costs and credit default swap premiums, remain stable.

While warning that exchange-rate swings and broader financial volatility could persist depending on developments in the Middle East, policymakers signaled readiness to coordinate with the government to curb excessive moves should the currency deviate materially from economic fundamentals.



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