Korean won strengthens against US dollar after BOK holds key rate
The won-dollar exchange rate, as well as the benchmark KOSPI and KOSDAQ indices, are displayed at Hana Bank's dealing room in Seoul, Thursday. Yonhap
The Korean won strengthened against the U.S. dollar Thursday, after the Bank of Korea (BOK) left its key rate unchanged, but hinted at further tightening.
The won was quoted at 1,324.2 won per dollar at 3:30 p.m., up 1 won from the close of the previous stock trading session.
For a fifth consecutive session, the won marked the highest level since Oct. 2, 2024.
In a widely expected decision, the BOK held the key rate steady at 3 percent in its rate-setting meeting earlier in the day.
BOK Gov. Shin Hyun-song told reporters that the won "is still undervalued in terms of effective exchange rate."
The won has appreciated to around 1,320 won per U.S. dollar from around 1,560 won in June.