The South Korean won closed at 1,416.0 per dollar in Seoul, down 2.4 won from the previous session, after earlier trading around 1,415 and near its strongest level since October 2025. Support from robust trade data, exporter dollar selling and expected inflows tied to South Korea's inclusion in the World Government Bond Index is being offset by renewed yen weakness, uncertainty around the Strait of Hormuz that has kept oil prices elevated, quarterly foreign dividend payments of about $1.6 billion this month, and continued Korean purchases of U.S. stocks. July exports rose nearly 63% year on year to $98.89 billion and semiconductor shipments jumped 179%, while some observers said dollar demand linked to SK hynix's American depositary receipts has largely been absorbed. Investors are also watching U.S. inflation data for signals on the Federal Reserve's policy path and the dollar, while Bank of Korea Deputy Governor Ryoo Sang-dai said around 1,400 won is "a very high level" and added, "I don't think the exchange rate will fall quickly," though "If asked to name a direction, I'd point downward."