Won Surges After SK Hynix's Nasdaq Listing

The South Korean won has experienced its strongest monthly gain since 2009 due to a surge in US dollar inflows following SK hynix's Nasdaq listing.

The currency appreciated at an annualized rate of 125.4 won against the US dollar, reaching 1,424 per USD by the end of July.

This marked the largest monthly gain since March 2009, when the won strengthened by 150.5 won in the aftermath of the global financial crisis.

The currency has rebounded steadily after falling to a more than 17-year low of 1,599.2 won per dollar on July 1.