The Korean won opened lower against the U.S. dollar on Monday, March 23, 2026, at 1,504.9 won per dollar—extending its decline below the 1,500 level seen last week amid the ongoing Iran crisis. Down 4.3 won from Friday, the move reflects sustained geopolitical tensions boosting demand for the dollar.
In a dealing room at Hana Bank in central Seoul on Monday, March 23, 2026, the Korean won opened at 1,504.9 per U.S. dollar, down 4.3 won from Friday's close of 1,500.6. This continues the sharp weakening triggered last week by Israel's attack on Iranian gas facilities, Iranian threats to Gulf energy infrastructure, and surging oil prices—as detailed in prior coverage.
Investor sentiment remained pressured after Iran escalated on Sunday, threatening strikes on energy and water facilities in Gulf neighbors if the U.S. targets Iran's grid. However, de-escalation signals emerged with U.S. President Donald Trump stating no troop deployments for war, and Israeli Prime Minister Benjamin Netanyahu pledging restraint on further attacks on Iranian energy sites.
The won had closed Thursday at 1,501—its lowest since 2009—and dipped below 1,500 for two straight sessions last week, a level not seen since the global financial crisis. Heightened volatility persists in Korea's forex and stock markets amid the crisis.
