Seoul: The South Korean won fell to a nearly two-month low against the U.S. dollar Friday as volatility persisted in financial markets amid the Middle East crisis. The won was quoted at 1,476.4 per dollar at 3:30 p.m., marking a decrease of 8.3 won from the previous session and reaching its weakest level since January 20, when it hit this year’s low of 1,478.1 won.

According to Yonhap News Agency, the won had rebounded Thursday for the first time in four trading sessions after experiencing sharp losses over the previous three sessions. This rebound was influenced by the U.S.-Israeli military operation against Iran, which contributed to a broad dollar rally.

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.”

Meanwhile, the benchmark Korea Composite Stock Price Index (KOSPI) edged up slightly by 0.02 percent, or 0.97 point, to close at 5,584.87 on Friday. This rise followed a substantial gain of 490.36 points the previous day, which came after panic selling earlier in the week.