Korean won rebounds against U.S. dollar as oil prices ease

▲ This Reuters image shows Israeli Prime Minister Benjamin Netanyahu speaking during a press conference, amid the U.S.-Israel conflict with Iran, in Jerusalem, on March 19, 2026. (PHOTO NOT FOR SALE) (Yonhap)

Korean currency-volatility

Korean won rebounds against U.S. dollar as oil prices ease

SEOUL, March 20 (Yonhap) -- The South Korean currency opened higher against the U.S. dollar Friday, rebounding after falling to its weakest level in 17 years on the previous day, as global oil prices declined amid efforts by the United States and Israel to ease concerns about a prolonged crisis in the Middle East.

The won opened at 1,492 won per dollar, up 9 won from the previous session.

On Thursday, the currency fell to 1,501 per dollar, its lowest level since March 10, 2009, when it hit 1,511.1 during the global financial crisis.

The drop came as tensions in the Middle East escalated following Israel's attack on natural gas facilities in Iran, which had pushed global oil prices higher on concerns about supply disruptions.

But oil prices later retreated, with West Texas Intermediate for May falling below $95 a barrel, as U.S. President Donald Trump told reporters he was "not putting troops anywhere" when asked about the possibility of deploying ground forces.

Israeli Prime Minister Benjamin Netanyahu also said Israel would refrain from further attacks on Iranian energy facilities, while claiming that Iran no longer has "the capacity to enrich uranium," according to foreign media reports.

South Korea's foreign exchange and stock markets have shown heightened volatility since the beginning of the conflict earlier this month, as the country remains heavily dependent on energy imports.

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