Korean won hits near 2-year high against US dollar

The Korean won advanced to a near two-year high against the U.S. dollar Monday, fueled by dollar sales by local exporters.

The won was quoted at 1,335.1 won per dollar at 3:30 p.m., up 7.7 won from the close of the previous stock trading session.

At one point in afternoon trading, the won strengthened to a high of 1,331.3 per dollar, marking the strongest level since Oct. 4, 2024.

The won's advance came as local exporters, led by semiconductor manufacturers, continued to convert their dollar earnings into the Korean currency, traders said.

Foreigners sold a net 2.01 trillion won ($1.5 billion) worth of local shares during the latest regular trading session, with the benchmark Korea Composite Stock Price Index plunging 3.65 percent to close at 6,384.24.