South Korean won strengthens to around 1,360 per dollar as oil prices fall

Sep 21, 2026 06:44 (34d ago)

The won-dollar rate closed at 1,381 won on the 21st before falling to 1,371 won at 9 a.m. on the 22nd and later around 1,360 won.
South Korean exports rose 78.3% year-on-year in September 1-20, with semiconductor exports up 259.4%, while WTI fell 4.5% and Brent declined more than 3%.
The Bank of Korea said it would consider inflation, growth and financial stability before deciding the timing and pace of further rate hikes.

The won-dollar exchange rate closed at 1,381 won on the 21st, down 2.3 won and ending a seven-session advance, before falling to 1,371 won at 9 a.m. on the 22nd and later around 1,360 won. Major exporters accelerated dollar sales ahead of the Chuseok holiday, while lower oil prices, hopes for US-Iran diplomacy, recovering Saudi oil shipments, gains in US equities and a decline in the 10-year Treasury yield improved risk appetite. South Korea’s exports rose 78.3% year-on-year in the first 20 days of September, led by a 259.4% increase in semiconductor shipments, supporting dollar inflows. The dollar remained relatively firm as markets considered another Federal Reserve rate increase, while the Bank of Korea said it would assess inflation, growth and financial stability when determining the timing and pace of further rate hikes.