Korean won hits over 2-year high against US dollar
The Korean won advanced to an over two-year high against the U.S. dollar Monday, driven by dollar sales by local exporters and foreign institutional investors. The won was quoted at 1,330.3 won per dollar at 3:30 p.m., up 1.1 won from the close of the previous stock trading session. At one point in afternoon trading, the won was traded at 1,327.6 per dollar, marking the strongest level since Oct.…
The Korean won surged to a two-year peak against the US dollar on Monday, propelled by local exporters selling dollars and foreign institutional investors. The currency hit 1,330.3 per dollar at 3:30 PM, a 1.1-won increase from the previous session's close. A brief dip to 1,327.6 per dollar earlier saw the highest level since October 2, 2024.
Finance Minister Lee Hyoung-il noted last Friday that the exchange rate aligned with Korea's economic fundamentals. That same day, foreign investors offloaded a net 37.8 billion won ($28.3 million) worth of domestic stocks, while the benchmark Korea Composite Stock Price Index rose 1.76% to 5,768.01.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Korean won hits over 2-year high against US dollar koreatimes.co.kr
- S. Korean won hits over 2-year high against U.S. dollar en.yna.co.kr
