South Korean Won Weakens Toward 17-Year Low

2026-07-01 03:55 By Erika Ordonez 1 min. read

The South Korean won weakened to around 1,553 per dollar, approaching its weakest level since March 2009 near 1,560 touched earlier in June, as persistent foreign selling of local equities and broad demand for the US dollar weighed on the currency.

Overseas investors remained net sellers of Korean stocks for an eighth consecutive session, extending a wave of capital outflows as global funds trimmed exposure to Korean technology shares.

The won also came under pressure from a firm US dollar as investors pared expectations for near-term Federal Reserve rate cuts.

Meanwhile, South Korea reported record trade data for June, with exports surging 70.9% year-on-year to $102.25 billion, marking the first time monthly shipments exceeded $100 billion.

The annual inflation rate also accelerated to 3.2% in June, the highest since December 2023, reinforcing expectations that the Bank of Korea could raise interest rates as early as its July 16 policy meeting.



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