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Korean won rises to 6-month high against U.S. dollar

May 21, 2025

The South Korean currency rose against the U.S. dollar Wednesday, reaching its highest level in more than six months.

The Korean won was quoted at 1,387.2 won per dollar, up 5.2 won from the previous session.

It marked the highest level since Nov. 8, 2024, when the currency was quoted at 1,336.4 won.

The won’s strength came as South Korea and the United States began a second round of working-level discussions on the Donald Trump administration’s tariff scheme in Washington on Tuesday (U.S. time).

Eyes are also on the upcoming talks between the U.S. and Japan on currency and tariff-related issues to be held on the sidelines of the Group of Seven (G7) Finance Ministers and Central Bank Governors’ Meeting under way in Canada.

Previously, the won had weakened significantly, nearing 1,500 won per dollar, due mainly to concerns over the Donald Trump administration’s sweeping tariff scheme and political instability following former President Yoon Suk Yeol’s declaration of martial law in December.

But the currency has somewhat recovered in recent weeks, stabilizing at around the 1,400 won level.