▲ Officials work at a dealing room of Hana Bank in Seoul on March 13, 2026. (Yonhap)

Korean currency-volatility

Korean currency slips past 1,500 won per dollar amid oil price hike

SEOUL, March 16 (Yonhap) -- The South Korean currency fell past the 1,500 won level against the U.S. dollar Monday as global oil prices surged amid heightened tensions in the Middle East.

The won opened at 1,501.0 per dollar, down 7.3 won from the previous session.

The weakness came as global oil prices spiked again overnight, reaching the highest level since 2022 of over US$105 per barrel, as U.S. President Donald Trump suggested the war with Iran could last several more weeks and called on the international community to help reopen the Strait of Hormuz to oil tankers.

The foreign exchange and stock markets have shown high volatility since last week as the U.S.-Israeli attacks on Iran have escalated tensions across the broader region.

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