The Korean won breached the 1,500-per-dollar mark during overnight trading for the first time since the 2009 global financial crisis, as escalating military conflict between the U.S., Israel, and Iran triggered a flight to safe-haven assets.
According to Seoul Money Brokerage Services, the won crossed the 1,500 threshold against the dollar at approximately 12:05 a.m. on the 4th. The move reflected a short-term surge in dollar buying driven by heightened geopolitical risks.
The exchange rate spiked as high as 1,506 won per dollar before retreating below the 1,500 level. The breach marked the first time the won has weakened past 1,500 since March 2009, during the global financial crisis.
Market participants expect elevated exchange rate volatility to persist in the near term, citing the difficulty of a quick resolution to Middle East tensions.