South Korean Won Hits Over 5-Month High

2026-07-30 04:18 By Erika Ordonez 1 min. read

The South Korean won strengthened to around 1,437 per dollar in late July, extending gains to its strongest level since late February, as increased dollar supply from exporters and corporate currency conversions supported the currency.

SK hynix's repatriation of proceeds from its US listing, along with month-end exporter settlements, helped offset dollar demand from foreign investors selling South Korean equities during the recent stock market rout.

The won also benefited from improving export sentiment, with record semiconductor earnings and sustained AI-related memory demand reinforcing expectations for continued strength in South Korea's key export sector and sustained foreign currency inflows.

Separately, the Federal Reserve's decision to keep interest rates unchanged eased concerns over a near-term rate hike, weakening the dollar and reducing pressure on the won.

Meanwhile, renewed US-Iran tensions and potential oil price volatility remained risks for the currency.



News Stream
South Korean Won Hits Over 5-Month High
The South Korean won strengthened to around 1,437 per dollar in late July, extending gains to its strongest level since late February, as increased dollar supply from exporters and corporate currency conversions supported the currency. SK hynix's repatriation of proceeds from its US listing, along with month-end exporter settlements, helped offset dollar demand from foreign investors selling South Korean equities during the recent stock market rout. The won also benefited from improving export sentiment, with record semiconductor earnings and sustained AI-related memory demand reinforcing expectations for continued strength in South Korea's key export sector and sustained foreign currency inflows. Separately, the Federal Reserve's decision to keep interest rates unchanged eased concerns over a near-term rate hike, weakening the dollar and reducing pressure on the won. Meanwhile, renewed US-Iran tensions and potential oil price volatility remained risks for the currency.
2026-07-30
South Korean Won Rises to 5-Month High
The South Korean won strengthened to around 1,443 per dollar in late July, reaching its highest level since late February, supported by expectations for tighter monetary policy and improved domestic fundamentals. The Bank of Korea reiterated that maintaining a tightening stance remains necessary amid persistent inflation pressures, following its recent rate hike to 2.75%, while highlighting stronger exports and investment as factors supporting continued economic growth. The currency also received support from SK hynix converting proceeds from its US listing into won, boosting demand for the local currency despite foreign investors selling South Korean equities. Meanwhile, gains were limited by uncertainty surrounding the Federal Reserve's policy outlook, with markets still weighing the possibility of higher US interest rates. Volatility in the global semiconductor market also continued to influence broader risk sentiment.
2026-07-29
South Korean Won Falls from Over-2-Month High
The South Korean won traded around 1,465 per dollar in late July, retreating from an over-two-month high as investors adopted a more cautious stance ahead of this week's Federal Reserve policy decision. The currency's pullback came as markets awaited further guidance on the US interest rate outlook, with uncertainty over the timing of future policy moves lending some strength to the dollar. At the same time, renewed risk aversion amid a sharp semiconductor selloff and foreign equity outflows further limited gains, with overseas investors selling KRW 2.1 trillion worth of shares. Meanwhile, the won remained underpinned by improved external conditions, as a pause in US-Iran strikes eased geopolitical concerns, pushed oil prices lower, and improved risk sentiment. Exporter dollar selling also helped sustain the currency, with SK hynix's record US listing earlier this month prompting dollar conversions that contributed to broader corporate repatriation flows.
2026-07-27