South Korean Won Hits 13-Month High Against Dollar Amid Jackson Hole Anticipation

The South Korean won has reached its highest level in over 13 months against the U.S. dollar, driven by exporters selling dollars and anticipation of the U.S. monetary policy event at Jackson Hole.

The won was quoted at 1,372.5 per dollar at 3:30 p.m., an increase of 8.4 won from the previous day's close.

This marks the strongest level since July 24 last year, when the won stood at 1,367.2 per dollar.

The rise in the won's value is attributed to dollar-selling by local exporters, which has accelerated since it surpassed the 1,400-per-dollar mark.