(LEAD) S. Korean won trades sharply lower as Iran crisis persists

▲ A dealing room at Hana Bank in central Seoul on March 23, 2026 (Yonhap)

(LEAD) Korean currency-volatility

(LEAD) S. Korean won trades sharply lower as Iran crisis persists

(ATTN: RECASTS headline, lead, para 2; CHANGES photo)

SEOUL, March 23 (Yonhap) -- The South Korean currency was trading sharply lower against the U.S. dollar on Monday, trading again below the 1,500 won level against the greenback, as geopolitical tensions stemming from the Iran crisis continued to weigh on investor sentiment and drive demand for hard currency.

The won was quoted at 1,510.3 per dollar as of 9:42 a.m., down 9.7 won from the previous session, after opening at 1,504.9.

On Thursday, the currency closed at 1,501 won per dollar, the lowest since March 10, 2009, when it hit 1,511.1 during the global financial crisis. The won slightly rebound to 1,500.6 won per dollar on Friday, but it marked the first time since 2009 that the won has remained below the 1,500-won level for two consecutive sessions.

On Sunday, Iran ratcheted up its threats saying it would strike the energy and water facilities of its neighbors in the Gulf if the United States hit Iran's electricity grid.

There have been hopes for easing tensions in the Middle East, after U.S. President Donald Trump said he would not deploy troops for the war, and Israeli Prime Minister Benjamin Netanyahu also said Israel would refrain from further attacks on Iranian energy facilities.

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