South Korea’s won climbed to its strongest level in nearly a year on Monday, helped by a weaker U.S. dollar and strong semiconductor exports. The won briefly rose to 1,376.5 against the dollar, its firmest level since mid-September 2025, according to the report. The dollar stayed near multi-month lows, while uncertainty tied to U.S. Treasury buybacks and sanctions on Iran added pressure to the market. That softer dollar backdrop gave Asian currencies some room to recover, with the won leading gains on the day. The report also said a surge in South Korea’s semiconductor exports added support for the currency and helped it withstand pressure from higher oil prices. Christopher Wong, a foreign exchange strategist at OCBC, said selling of dollars by exporters and corporates, together with the broader weakness in the greenback, appeared to be giving the won more durable support.
The South Korean won rose to a near one-year high on Monday, supported by a softer U.S. dollar and strong semiconductor exports.
The dollar remained near multi-month lows, while uncertainty linked to U.S. Treasury buybacks and sanctions on Iran weighed on the market. That gave Asian currencies some breathing room, and the won led the move. It briefly strengthened to 1,376.5 per dollar, its strongest level since mid-September 2025.
The report said South Korea’s surge in semiconductor exports also helped lift the won and allowed it to hold up against pressure from rising oil prices.
Christopher Wong, a foreign exchange strategist at OCBC, said: 「Selling of dollars by exporters and corporates, together with the broader weakness in the dollar, appears to have provided more sustained support for the won.」
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