Forex
Won Hits 23-Month High as Local Exporters Sell Dollars
The South Korean won has reached a near 23-month high against the U.S. dollar, driven by dollar sales from local exporters despite escalating tensions in the Middle East.
On Wednesday, the won was quoted at 1,336.1 won per dollar at 3:30 p.m., marking its strongest level since October 4, 2024.
The won's advance is attributed to dollar sales led by local semiconductor manufacturers, while global oil prices continue to rise amid the conflict between the United States and Iran.