Seoul: The South Korean won continued its decline against the U.S. dollar on Thursday, primarily driven by sustained foreign selloffs of local stocks. The exchange rate was recorded at 1,555.8 won per dollar by mid-afternoon, marking a 0.9 won decrease compared to the previous trading session. This maintained the won at the 1,550-level for the second consecutive day.

According to Yonhap News Agency, the won had initially opened at 1,552.3 won per dollar, posting an increase of 2.6 won from the previous session following comments by U.S. Federal Reserve Chair Kevin Warsh regarding moderated inflation expectations. The South Korean currency had hit its lowest point since March 5, 2009, the day before, closing at 1,554.9 won to the dollar in onshore trading.

Foreign investors offloaded a net 4.3 trillion won, equivalent to approximately US$2.7 billion, in local stocks on Thursday. This marked the tenth consecutive trading session in which foreign investors were net sellers of South Korean stocks.

Vice Finance Minister Huh Chang stated earlier in the day that the government stands ready to implement measures to stabilize the foreign exchange market if deemed necessary. He noted that the current exchange rate appears "misaligned" with the country's economic fundamentals.