Seoul: The South Korean won continued its upward trajectory, reaching a 13-month high against the U.S. dollar on Friday. This movement was fueled by exporters offloading dollars while market participants keenly awaited developments from the U.S. monetary policy meeting in Jackson Hole.

According to Yonhap News Agency, the won was valued at 1,372.5 per dollar at 3:30 p.m., marking an increase of 8.4 won from the previous trading session's close. This level is the highest since July 24 of the previous year when the won was at 1,367.2 per dollar. The recent appreciation of the won was attributed to increased dollar-selling activities by local exporters, especially after the won surpassed the 1,400 per dollar threshold.

In the U.S., attention was focused on Federal Reserve Chair Kevin Warsh's upcoming address at the Jackson Hole Economic Policy Symposium. His speech is particularly significant amid rising concerns over U.S. fiscal debts. In a related development, foreign investors offloaded a net 1.7 trillion won (approximately US$1.24 billion) worth of South Korean stocks in the latest trading session. This sell-off contributed to a 1.79 percent decline in the benchmark Korea Composite Stock Price Index, which closed at 6,788.88.