S. Korean won strengthens against U.S. dollar after BOK holds key rate

What happened: The South Korean won strengthened against the U.S. dollar after the Bank of Korea held its key rate unchanged but hinted at further tightening. Key numbers: Won at 1,324.2 per dollar at 3:30 p.m., up 1 won from the prior session close. Key rate held at 3 percent. Fifth straight session at highest level since Oct. 2, 2024. Won appreciated to around 1,320 per dollar from around 1,560 in June. Why it matters: The BOK decision was widely expected, and Gov. Shin Hyun-song said the won is still undervalued in terms of effective exchange rate.

The South Korean won strengthened against the U.S. dollar after the Bank of Korea held its key rate unchanged but hinted at further tightening.

The BOK decision was widely expected, and Gov. Shin Hyun-song said the won is still undervalued in terms of effective exchange rate.