South Korean Won Drops to 17-Year Low

2026-03-30 02:46 By Erika Ordonez 1 min. read

The South Korean won weakened past 1,525 per dollar, extending losses to its weakest level since March 2009, amid heightened global risk aversion over escalating tensions in the Middle East.

Markets reacted to US President Donald Trump’s threat to strike Iran’s oil wells and key export infrastructure if a deal is not reached soon, prompting broad foreign outflows from Asian currencies.

Rising oil prices, now above $100 per barrel, added further pressure on the won, stoking concerns over inflation and South Korea’s energy-dependent economy.

For the month, the won has lost roughly 5% against the dollar.

Policymakers have deployed a mix of interventions, including raising the national pension fund’s hedging ratio, but experts note that options to stabilize the currency are limited amid safe-haven flows into the US dollar.

Bank of Korea governor nominee Shin Hyun-song highlighted the need for flexible monetary measures to manage risks.



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