Seoul: The South Korean won reached a new 11-month high against the U.S. dollar on Thursday, driven by exporters selling the dollar while the U.S. dollar remained weak following the U.S. Treasury Department's strategy to stabilize rising long-term bond yields.

According to Yonhap News Agency, the won was quoted at 1,392.6 per greenback at 3:30 p.m., a rise of 5.1 won from the previous trading day's close. The currency opened at 1,387 per dollar and peaked at 1,384.1, marking its strongest position since September 18 of last year.

The ongoing sale of dollars by exporters contributed to the won's appreciation, with the dollar's decline further influenced by the Treasury Department's decision to double its planned purchases of long-dated bonds. Additionally, foreigners acquired a net 1.7 trillion won (approximately US$1.23 billion) worth of local stocks in the latest trading session. This activity led to the benchmark Korea Composite Stock Price Index surging 5.89 percent, closing at 6,852.58.