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KRWUSD

South Korean Won Hits Over 10-Month High

The South Korean won traded around 1,399 per dollar, reaching its strongest level since late September 2025, as a softer US dollar supported demand for the local currency. The dollar index remained near multi-month lows as Treasury yields eased from recent highs, while investors scaled back expectations for further Fed rate hikes following softer US economic data, narrowing the dollar’s yield advantage. Additionally, persistent dollar-selling flows from Korean exporters continued to support the won amid strong semiconductor-related export receipts. The conversion of SK hynix’s ADR proceeds into won has also been a key factor behind the currency’s sharp appreciation in recent weeks, boosting domestic dollar supply. Meanwhile, higher oil prices near three-week highs and renewed US-Iran tensions could pose a headwind for the won, as the lack of progress in peace efforts raises concerns over potential disruptions to Middle Eastern oil supplies and higher import costs for South Korea.

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