Seoul:The South Korean won advanced to a near two-year high against the US dollar on Monday, driven by dollar sales from local exporters.
According to Yonhap News Agency, the won was quoted at 1,335.1 won per dollar at 330 p.m., marking an increase of 7.7 won from the previous trading session's close. During afternoon trading, the won reached a peak of 1,331.3 per dollar, the strongest level since October 4, 2024.
The won's appreciation was attributed to local exporters, particularly semiconductor manufacturers, converting their dollar earnings into Korean currency. Despite the won's rise, foreigners sold a net 2.01 trillion won (US$1.5 billion) worth of local shares during the latest trading session. This activity coincided with the Korea Composite Stock Price Index dropping 3.65 percent to close at 6,384.24.