Korean won rises to near one-year high against US dollar, Christopher Wong: Exporters sell US dollar to provide support

On Monday, the exchange rate of the Korean won against the US dollar rose to 1376.5, reaching its strongest level since mid September 2025. The US dollar remains near a several month low, and the uncertainty brought by US bond repurchases and sanctions against Iran has put pressure on the market. The surge in South Korean semiconductor exports has boosted the strength of the Korean won, enabling it to withstand the pressure of rising oil prices. Christopher Wong, a foreign exchange strategist at OCBC Bank, stated that the selling of US dollars by exporters and businesses, coupled with the overall weakening of the US dollar, has provided sustained support for the Korean won.