S. Korean won hits 13-month high as dollar selling continues

Seoul, August 24 - The South Korean won reached a 13-month peak against the U.S. dollar on Monday, as exporters continued to sell greenback holdings amid worries about U.S. debt levels. The currency was quoted at 1,382.4 won per dollar by 3:30 p.m., an increase of 4.1 won from the previous trading day's close. This marked the highest level since July 30, 2025.

The won opened the day at 1,387 won per dollar and peaked at 1,376.5 won at one point. The surge in the won came as the U.S. Treasury Department announced it would double its planned purchase of long-term bonds, with the U.S. national debt surpassing the record of $40 trillion. Economists believe exporters sold more dollars as the currency rose above the 1,400 per dollar mark last week.

Foreign investors sold a net 3.7 trillion won (approximately $2.67 billion) worth of local stocks during the latest trading session, causing the Korea Composite Stock Price Index to fall 3.12 percent to close at 6,696.96.