Currency
Seoul stocks open sharply higher on Mideast de-escalation hopes
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South Korean stocks opened sharply higher on March 24 amid hopes of easing Middle East tensions, following U.S. President Donald Trump's announcement of talks with Iran and a five-day postponement of strikes. The KOSPI index rose 4.25% at open, reaching 5,602.08, up 3.63%, after 15 minutes of trading.
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.
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The Indian rupee plunged to a fresh all-time low of 93.73 against the US dollar, its sharpest single-day drop since late 2022. This extends the depreciation trend that saw it weaken to 92.42 earlier in the week amid surging oil prices from West Asian conflicts and foreign investor outflows.
On March 5, 2026—the sixth day of the US-Iran war that began with U.S. and Israeli strikes on February 28—the Mexican export oil blend hit $75.24 per barrel, its highest since July 2024. The conflict's blockage of the Strait of Hormuz drove a 7% daily rise, surpassing forecasts by 37%. Each extra dollar could bring Mexico billions in revenue, analysts say.
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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.
The usd/cad currency pair has reached a daily high near 1.3725, approaching a critical confluence level at 1.3728. This movement reflects the Canadian dollar's ongoing weakness against the US dollar amid stronger US economic indicators. Upcoming data releases could influence further developments.
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The Indonesian rupiah weakened by 19 points to Rp16,848 per US dollar at the opening of trading in Jakarta on Wednesday, as investors adopted a cautious stance ahead of US President Donald Trump's State of the Union address. Meanwhile, the Composite Stock Price Index (IHSG) strengthened. Market sentiment is influenced by concerns over US trade policies and geopolitical tensions in the Middle East.
Philippine peso closes at record low of P60.10 per dollar
March 19, 2026 06:06Seoul shares open higher amid hopes for easing Mideast tensions
March 17, 2026 02:27Indian rupee weakens further to 92.42 against US dollar amid oil prices, West Asia tensions
March 11, 2026 22:41Seoul stocks close lower on Middle East tensions; won falls sharply
March 11, 2026 11:13Seoul stocks rise for second day amid Iran woes
March 05, 2026 13:59Seoul shares end flat amid prolonged Iran crisis
March 03, 2026 11:40Korean won drops below 1,500 per dollar for first time in 17 years
February 27, 2026 18:14Seoul shares snap six-day winning streak on profit-taking; won falls
February 27, 2026 17:27CBK governor explains 18-month stability of Kenyan shilling against dollar
February 25, 2026 00:49Egyptian pound drops to LE47.95 against the dollar