The South Korean won weakened to 1,508.9 against the U.S. dollar by 3:30 p.m. Seoul time on March 27, down 1.9 won from the prior session and extending losses for a third day amid stalled U.S.-Iran talks over the Middle East crisis. The KOSPI fell further 0.4 percent to 5,438.87 as oil prices surged with the Strait of Hormuz closed.
Building on earlier declines—where the won opened Friday at 1,508.6 after Thursday's close near 1,507 and a Monday 17-year low of 1,517.3—the currency reached 1,508.9 per dollar at 3:30 p.m. on March 27, reflecting heightened volatility around the 1,500 level.
U.S. President Donald Trump extended a pause on strikes against Iranian energy facilities by 10 days to April 6, claiming talks with Tehran are progressing well. Iran rejected the proposal as one-sided, upholding its right to control the Strait of Hormuz, which remains effectively closed, driving global oil prices higher and pressuring South Korea's import-reliant economy.
The benchmark KOSPI dropped 0.4 percent to 5,438.87, following Thursday's 3.22 percent plunge to 5,460.46, amid foreign investor selling.
