Korean won-volatility

▲ This photo, taken Sept. 9, 2026, shows the dealing room of Hana Bank in Seoul. (Yonhap)

SEOUL, Sept. 9 (Yonhap) -- The South Korean won advanced to a near 23-month high against the U.S. dollar Wednesday, driven by dollar sales by local exporters despite escalating military tensions in the Middle East.

The won was quoted at 1,336.1 won per dollar at 3:30 p.m., up 9.5 won from the close of the previous stock trading session, marking the strongest level since Oct. 4, 2024.

Traders attributed the won's advance to dollar sales led by local semiconductor manufacturers.

However, the won had been under pressure as global oil prices continued to rise amid the flare up in fighting between the United States and Iran.

Foreigners sold a net 224.5 billion won (US$167 million) worth of local stocks during the latest trading session, while the benchmark Korea Composite Stock Price Index gained 1.4 percent to close at 7,051.64.

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