South Korean Won Rises to Nearly Two-Year High as Oil Prices Decline and Exporters Sell Dollars
š On October 12, the South Korean won gained as much as 0.8%, pushing USD/KRW down to around 1,333.30, its lowest level since October 2024. The gain later narrowed to approximately 0.5%.
š¢ļø Lower oil prices eased energy import cost pressures, while USD selling by South Korean exporters, particularly in the semiconductor sector, provided additional support for the won.
š The won has appreciated approximately 7.7% since the beginning of 2026. South Korea's exports reached $26.1 billion in the first 10 days of October, with semiconductor exports surging 170.9% year over year, reinforcing support for the currency.
š Strong exports and domestic USD conversion flows continue to support the won. However, oil price fluctuations, Federal Reserve policy, and market liquidity could still influence the exchange rate's direction.
#Forex $ETC
š On October 12, the South Korean won gained as much as 0.8%, pushing USD/KRW down to around 1,333.30, its lowest level since October 2024. The gain later narrowed to approximately 0.5%.
š¢ļø Lower oil prices eased energy import cost pressures, while USD selling by South Korean exporters, particularly in the semiconductor sector, provided additional support for the won.
š The won has appreciated approximately 7.7% since the beginning of 2026. South Korea's exports reached $26.1 billion in the first 10 days of October, with semiconductor exports surging 170.9% year over year, reinforcing support for the currency.
š Strong exports and domestic USD conversion flows continue to support the won. However, oil price fluctuations, Federal Reserve policy, and market liquidity could still influence the exchange rate's direction.
#Forex $ETC