The Korean won fell to a nearly two-month low against the U.S. dollar on Friday amid persistent volatility in financial markets due to the Middle East crisis. At 3:30 p.m., the won was quoted at 1,476.4 per dollar, down 8.3 won from the previous session and marking its weakest level since January 20. The Bank of Korea stated it is closely monitoring developments and preparing responses as volatility could continue depending on the situation.
On Friday, the Korean won weakened to 1,476.4 per U.S. dollar by 3:30 p.m. in Seoul, a decline of 8.3 won from the prior session, reaching its lowest point since January 20's yearly low of 1,478.1. This came after the currency rebounded on Thursday for the first time in four sessions, following sharp losses driven by a broad dollar rally fueled by the U.S.-Israeli military operation against Iran.
A Bank of Korea (BOK) official stated, "Volatility in the exchange rate and other major financial indicators could persist depending on developments in the Middle East. We are closely monitoring market movements and preparing for responses."
The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.02 percent, or 0.97 point, to close at 5,584.87, a day after its largest-ever single-day gain of 490.36 points amid earlier panic selling. The week's turbulence highlights the impact of geopolitical tensions on South Korea's financial markets, with observers noting potential for ongoing instability.
