Seoul: The South Korean won surged to a near 13-month high against the U.S. dollar on Monday as the selling of dollar holdings by exporters persisted amid increasing concerns over U.S. debt levels. The won was quoted at 1,382.4 per dollar at 3:30 p.m., reflecting an increase of 4.1 won from the previous trading day's close, marking its strongest position since July 30, 2025.

According to Yonhap News Agency, the won began the day at 1,387 per dollar and peaked at 1,376.5 at one point during trading. The currency's rise was driven by the U.S. Treasury Department's decision to double its planned purchase of long-term bonds, as U.S. national debt surpassed a record $40 trillion.

Economist Moon Jeong-hee from KB Kookmin Bank noted that exporters seemed to have offloaded more dollars after the won surpassed the 1,400 per dollar threshold last week. Meanwhile, foreign investors sold a net 3.7 trillion won (approximately $2.67 billion) in South Korean stocks during the latest session, causing the benchmark Korea Composite Stock Price Index to decline by 3.12 percent, closing at 6,696.96.