Seoul: The South Korean currency rose against the U.S. dollar Wednesday, reaching its highest level in more than six months. The Korean won was quoted at 1,387.2 won per dollar, up 5.2 won from the previous session.
According to Yonhap News Agency, this marked the highest level since November 8, 2024, when the currency was quoted at 1,336.4 won. The strengthening of the won coincided with South Korea and the United States beginning a second round of working-level discussions on the Donald Trump administration's tariff scheme in Washington on Tuesday.
Attention is also focused on the upcoming talks between the U.S. and Japan on currency and tariff-related issues, which are set to occur on the sidelines of the Group of Seven (G7) Finance Ministers and Central Bank Governors' Meeting in Canada. Previously, the won had weakened significantly, nearing 1,500 won per dollar, primarily due to concerns over the Donald Trump administration's tariff scheme and political instability after former President Yoon Suk Yeol's declaration of martial law in December.
Recently, the currency has shown signs of recovery, stabilizing around the 1,400 won level.