The South Korean won rises to more than a two-year high against the U.S. dollar as the exchange rate moves around the 1,330 won per dollar level. In afternoon trading, the won is quoted at 1,330.3 per dollar, strengthening from the previous session and reaching 1,327.6 at one point, its strongest level since late 2024. Stocks also move higher, with the Korea Composite Stock Price Index gaining 1.76% to close at 5,768.01.
Across outlets, the won’s appreciation is linked to an increase in dollar supply from exporters and support from Korea’s trade surplus. Data cited from the Bank of Korea show the won-dollar average in early October is at its lowest since September 2024, with the monthly average exchange rate falling across recent months as exports continue to feed dollar inflows and exporters sell foreign currency in the market. Foreign investors are also reported to have net sold local equities during the latest session, while Finance Minister Lee Hyoung-il says the exchange rate is aligning with Korea’s economic fundamentals.
