Korean won rebounds sharply after dropping to 17-yr low amid Middle East crisis

▲ An official moves at a dealing room of Hana Bank in Seoul on March 8, 2026. (Yonhap)

Korean currency-volatility

Korean won rebounds sharply after dropping to 17-yr low amid Middle East crisis

SEOUL, March 10 (Yonhap) -- The South Korean currency gained sharply against the U.S. dollar Tuesday, rebounding from a steep drop the previous day, after U.S. President Donald Trump hinted that the war in the Middle East could end soon.

The won opened at 1,470.8 per dollar, up 24.7 won from the previous session's 1,496.5 won.

Monday's figure marked the weakest level since March 12, 2009, when the country was reeling from the global financial crisis.

The won has weakened sharply since last week in line with a broad dollar rally amid risk-off sentiment following the U.S.-Israeli attacks on Iran. Foreign sell-offs in the local stock market also contributed to the weakening of the Korean won.

But Trump's remarks eased concerns about a prolonged, broader regional war and potential disruptions to global oil supplies.

Also helping sentiment was news that the Group of Seven major economies were preparing to implement "necessary" measures in response to surging global oil prices.

(END)

(C) Yonhap News Agency. All Rights Reserved