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Korea Warns as Won Plummets to 17-Year Low

5/23/2026

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Summary

Story summary

Korea’s finance ministry and the Bank of Korea warned they would act, calling the won’s fall to 1,519.35 per dollar excessive.
The won fell to a 17-year low of 1,536.95 per dollar on March 31, 2026 amid a shock from the Iran war.
Analysts said the verbal warning, the first since December 2025, aimed to deter KRW bears, while strategists noted the strong dollar pressures the won.

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Story summary

Korea’s finance ministry and the Bank of Korea warned they would act, calling the won’s fall to 1,519.35 per dollar excessive.
The won fell to a 17-year low of 1,536.95 per dollar on March 31, 2026 amid a shock from the Iran war.
Analysts said the verbal warning, the first since December 2025, aimed to deter KRW bears, while strategists noted the strong dollar pressures the won.