South Korean Won Eases from Over 1-Month High

2026-07-13 04:52 By Erika Ordonez 1 min. read

The South Korean won fell to around 1,507 per dollar, easing from a more than one-month high near 1,498, amid renewed US-Iran military strikes and rising oil prices.

The two countries exchanged fresh attacks over the weekend, while Tehran claimed it had closed the Strait of Hormuz, raising concerns over disruptions to global oil supplies and fueling fears of higher energy costs.

The escalation also dampened global risk sentiment, prompting investors to favor safe-haven assets and the US dollar as crude prices climbed.

Meanwhile, expectations that SK Hynix will convert a substantial portion of the proceeds from its $26.5 billion Nasdaq listing into won for domestic investments helped temper pressure on the currency by boosting dollar supply in the domestic foreign exchange market.

Investors also looked ahead to this week's Bank of Korea policy decision for further guidance on the interest-rate outlook and policymakers' assessment of inflation, economic growth, and financial conditions.



News Stream
South Korean Won Eases from Over 1-Month High
The South Korean won fell to around 1,507 per dollar, easing from a more than one-month high near 1,498, amid renewed US-Iran military strikes and rising oil prices. The two countries exchanged fresh attacks over the weekend, while Tehran claimed it had closed the Strait of Hormuz, raising concerns over disruptions to global oil supplies and fueling fears of higher energy costs. The escalation also dampened global risk sentiment, prompting investors to favor safe-haven assets and the US dollar as crude prices climbed. Meanwhile, expectations that SK Hynix will convert a substantial portion of the proceeds from its $26.5 billion Nasdaq listing into won for domestic investments helped temper pressure on the currency by boosting dollar supply in the domestic foreign exchange market. Investors also looked ahead to this week's Bank of Korea policy decision for further guidance on the interest-rate outlook and policymakers' assessment of inflation, economic growth, and financial conditions.
2026-07-13
South Korean Won Hits 5-week High
The South Korean Won touched 1504.00 against the USD, the highest since June 2026. Over the past 4 weeks, US Dollar South Korean Won lost 1.27%, and in the last 12 months, it increased 9.43%.
2026-07-08
South Korean Won Hits Over 1-Month High
The South Korean won strengthened to around 1,500 per dollar, hitting its highest level in over a month, as a record current account surplus underscored the country's strong external position. South Korea's current account surplus widened to an all-time high of USD 38.61 billion in May, driven by a record goods surplus and a 167.7% surge in semiconductor exports. Additionally, Deputy Finance Minister Moon Ji-sung said the won remained misaligned with economic fundamentals and that authorities had ample room to stabilize the foreign exchange market if needed, adding that exporter dollar holdings are expected to generate FX forward inflows in the second half of the year. Sentiment was further supported by the government's plan to unveil a roadmap later this month to advance the internationalization of the won. Separately, reports that Iran sought negotiations eased concerns over prolonged supply disruptions, lifting global risk sentiment despite renewed US-Iran tensions.
2026-07-08