South Korean Won Strengthens on Dollar Selling
The South Korean won has appreciated against the US dollar due to local exporters selling dollars.
The South Korean won has appreciated against the US dollar due to local exporters selling dollars.
On September 29, 2026, the South Korean won strengthened against the US dollar, reaching 1,356.7 won per dollar by 3:30 p.m. This increase of 8.4 won from the previous trading session is primarily attributed to dollar sales by local exporters, who typically sell off their dollar holdings at the end of each month.
However, the won's gains were somewhat limited as oil prices continued to rise, fueled by concerns over the reopening of the Strait of Hormuz. This situation has created a complex backdrop for currency traders, as they navigate both local market dynamics and global economic factors.
In the latest trading session, foreign investors sold a net total of 2.9 trillion won (approximately $2.14 billion) worth of South Korean stocks, contributing to a slight decline in the benchmark Korea Composite Stock Price Index, which fell by 0.27% to close at 6,870.81.
The fluctuations in the currency market reflect broader economic trends and investor sentiment, indicating a cautious approach amid ongoing uncertainties in the global economy.
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