Won strengthens on robust exports, increased dollar supply

The Korean won has strengthened against the U.S. dollar due to an increase in dollar supply driven by robust exports, according to central bank data released by the Bank of Korea on October 18. The average exchange rate during the first 12 trading days of October was 1,342.6 won per dollar, marking the lowest since September 2024.

The monthly average exchange rate rose to 1,492.5 won in March and 1,528 won in June, but has since fallen to 1,338.9 won as of Friday, marking the lowest point since October 2, 2024. Experts attribute the strengthening to South Korea's trade surplus and ample dollar supply, as well as the central bank's monetary tightening measures and strong economic growth, particularly in the semiconductor sector.

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