S. Korean currency rebounds from 17-yr low on hopes for Middle East de-escalation

▲ U.S. President Donald Trump waves after arriving on Air Force One at Joint Base Andrews in Maryland on March 23, 2026, in this AP photo. (Yonhap)

Korean currency-volatility

S. Korean currency rebounds from 17-yr low on hopes for Middle East de-escalation

SEOUL, March 24 (Yonhap) -- The South Korean won gained sharply against the U.S. dollar Tuesday, recovering from a 17-year low in the previous session, after U.S. President Donald Trump delayed planned strikes on Iranian energy infrastructure amid talks to end the conflict.

The won opened at 1,490.9 per dollar, up 26.4 won from the previous session's 1,517.3 won.

Monday's level marked the weakest since March 9, 2009, when the won fell to 1,549 during the global financial crisis.

The domestic and global foreign exchange and stock markets have experienced heightened volatility as U.S.-Israeli strikes on Iran that began late last month have escalated into a broader regional conflict.

On Monday (U.S. time), Trump said he ordered a five-day postponement of threatened strikes on Iranian energy facilities, citing "constructive" discussions on ending the war in the Middle East.

Earlier, Trump had warned that the U.S. would "obliterate" Iran's power plants unless Tehran lifted its blockade of the Strait of Hormuz within 48 hours, with the deadline expiring late Monday.

The Strait of Hormuz has been effectively shut since the start of the conflict, disrupting global oil supplies.

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