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South Korean won hits 13-month high on dollar selling

Created at 31 Aug · 7:36 AM1 source↑ Market-relevant
IN SHORT

The South Korean won strengthened to its highest level against the U.S. dollar in approximately 13 months, driven by exporters selling dollars. The won reached 1,367.9 per dollar, despite hawkish remarks from Federal Reserve Chair Kevin Warsh.

Key Numbers

13 monthshighest level against USD
1,368.6won per dollar
3.9 wongain from previous close
1,367.9intraday high

Who's Involved

Moon Jeong-hee
economist at KB Kookmin Bank
Kevin Warsh
Federal Reserve Chair
South Korean won hits 13-month high on dollar selling

↳ Why This Matters

The strengthening of the South Korean won can impact the competitiveness of the nation's exports and the cost of imports. It also reflects foreign investor sentiment towards the South Korean economy and its currency.

Key facts

  • The South Korean won reached its strongest level against the U.S. dollar in approximately 13 months.
  • The won was trading at 1,368.6 won per dollar, up 3.9 won from the previous session's close.
  • The currency hit an intraday high of 1,367.9 won per dollar.
  • Exporters selling U.S. dollars was the primary driver of the won's advance.
  • The appreciation occurred despite hawkish commentary from Federal Reserve Chair Kevin Warsh regarding potential interest rate hikes.

The South Korean won appreciated to a 13-month high against the U.S. dollar on Thursday, driven by dollar-selling activities from exporters. The won was trading at 1,368.6 won per dollar at 3:30 p.m., marking a gain of 3.9 won from the previous trading session's close. Earlier in the day, the won reached an intraday peak of 1,367.9 per dollar, its strongest performance since July 24 of the previous year.

This upward trend for the won persisted despite recent hawkish remarks from Federal Reserve Chair Kevin Warsh, who indicated that the U.S. central bank might consider increasing interest rates if inflation risks do not diminish. Moon Jeong-hee, an economist at KB Kookmin Bank, attributed the won's steady appreciation to a combination of dollar-selling by market participants and a net inflow of foreign funds into the South Korean market.

Frequently asked questions

The South Korean won advanced due to dollar-selling by exporters and a net inflow of foreign funds.

The won was trading at 1,368.6 won per dollar at 3:30 p.m. on August 31, 2026.

Despite hawkish remarks from Federal Reserve Chair Kevin Warsh about potential interest rate hikes, the won continued to appreciate.

What Happens Next

01Monitor upcoming foreign exchange flows and exporter activity.
02Observe Federal Reserve communications for further guidance on interest rate policy.
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How It Developed

The South Korean won advanced to its strongest level against the U.S. dollar in about 13 months.
The won was quoted at 1,368.6 won per dollar at 3:30 p.m., up 3.9 won from the previous close.
The won reached as high as 1,367.9 per dollar in afternoon trading.
This appreciation occurred despite hawkish remarks from Federal Reserve Chair Kevin Warsh.
An economist attributed the won's appreciation to dollar selling and foreign fund inflows.

Sources

T1
S. Korean won advances to 13-month high on dollar sellingYonhap News Agency

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