Korean won extends gains against US dollar on strong exports
The Korean won extended its gains to hit a fresh two-year high against the U.S. dollar Wednesday, supported by strong exports and foreign inflows. The won was quoted at 1,325.2 won per dollar at 3:30 p.m., up 2.9 won from the close of the previous stock trading session. For a fourth straight session, the won marked the highest level since Oct. 2, 2024. Earlier in the day, government data showed…
The Korean won has reached a fresh two-year high against the US dollar, buoyed by strong exports and foreign inflows. As of 3:30 p.m., the exchange rate stood at 1,325.2 won per dollar, a 2.9 won increase from the previous trading session. This marks the fourth consecutive session of the won hitting record highs since October 2, 2024.
Government data revealed that exports for the first 20 days of October more than doubled to US$61.6 billion, largely driven by a surge in semiconductor shipments. Concurrently, foreign investors purchased a net 659.9 billion won ($497.3 million) worth of local shares during the latest regular trading session, leading the Korea Composite Stock Price Index to rise by 3.29 percent and close at 5,735.66.
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