News about Korean won

The won strengthened against the US dollar as export-driven supply of dollars grew, with exporters selling USD, supported by a semiconductor boom. The BoK's average won/USD rate for the first 12 trading days of October 2026 was 1,342.6, the lowest since September 2024, compared with 1,528 in June 2026. Average daily trade surplus in September 2026 was nearly $2.5 billion, far exceeding net foreign stock selling. The BoK raised its base rate to 3% in July and August 2026, and the IMF lifted its 2026 growth forecast for South Korea to 3.3%. Analysts expect the won to trade around 1,300 per dollar by year-end, but warn volatility may persist due to Middle East risks, oil prices and foreign capital outflows from the stock market.