S. Korean won weakens against U.S. dollar as oil prices climb

Korean won-volatility

▲ This photo, taken Sept. 8, 2026, shows the dealing room of Hana Bank in Seoul. (Yonhap)

SEOUL, Sept. 8 (Yonhap) -- The South Korean won weakened against the U.S. dollar Tuesday, as global oil prices rose over renewed military tensions in the Middle East.

The won was quoted at 1,345.6 won per dollar at 3:30 p.m., down 5.1 won from the close of the previous stock trading session.

With the United States and Iran exchanging blows in the Middle East, West Texas Intermediate crude rose past US$94 per barrel, marking the highest level in about three months.

Higher oil prices tend to weigh on the won by increasing demand for dollars for crude imports. South Korea relies heavily on overseas supplies to meet almost all of its energy needs.

As the won strongly rebounded in recent days, local importers also appeared to be buying up the greenback.

Traders were expected to keep a close watch on U.S. inflation data that could offer a clue regarding the Federal Reserve's path for monetary policy.

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