FX.co ★ South Korean Won Heads for Strong Monthly Gain

The South Korean won traded around 1,435 per dollar in late July, having gained more than 8% against the US dollar over the month—its strongest monthly performance since March 2009. The rally followed reports that South Korean foreign exchange authorities had intervened by selling dollars. Officials also indicated that Seoul and Tokyo are maintaining close coordination amid recent currency movements, and noted that continued dollar supply in the domestic market could offer additional support for the won. Global risk sentiment improved after a rebound in technology stocks, reducing demand for the greenback. Stronger foreign investor participation in South Korean equities bolstered currency inflows, while expectations of sustained AI-driven growth in semiconductor exports further strengthened Korea’s external position.