South Korea’s won rises 0.3% against the dollar after the Bank of Korea raises interest rates for the second straight meeting.
The South Korean won advanced 0.3% against the US dollar, pushing USD/KRW to near 1,380 in Asian trading. The move extends the pair’s decline to an 11-month low, driven by back-to-back interest rate hikes from the Bank of Korea.
Prior to the decision, the won had struggled amid broader dollar strength and regional risk sentiment. The BoK’s hawkish stance contrasts with expectations of policy easing from other major central banks, supporting the currency’s rebound.
Markets now await further guidance on the BoK’s rate trajectory, with traders pricing in potential additional tightening to curb inflation.