Gov't monitoring FX market with alertness amid won weakness: finance chief

▲ Finance Minister Koo Yun-cheol speaks at a special parliamentary committee meeting for a special U.S. investment bill held at the National Assembly in western Seoul on March 4, 2026. (Yonhap)

finance minister-currency volatility

Gov't monitoring FX market with alertness amid won weakness: finance chief

SEOUL, March 4 (Yonhap) -- The government is closely monitoring the foreign exchange (FX) market amid the recent weakness of the Korean won sparked by an external shock, the finance minister said Wednesday, apparently referring to the ongoing U.S. and Israeli strikes against Iran.

Finance Minister Koo Yun-cheol made the remarks at a meeting of the special parliamentary committee for a special bill to support South Korea's investment in the United States, as the won-dollar exchange rate briefly touched the 1,500-won level overnight.

As of 11:28 a.m., the Korean won was trading at 1,479.5 won, sliding 13.4 won from the previous session.

Koo told lawmakers the current FX volatility is largely stemming from external factors, apparently referring to the Iran crisis.

Asked whether a currency swap deal between Seoul and Washington is needed, Koo said the U.S. views Korea as having sufficient dollar reserves as the country holds a combined US$1 trillion in foreign currency assets, including a $400 billion reserve owned by the state.

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