KRW Market Update
21 Mar 2026 • 01:07 GMT
The South Korean won continues to trade below its 3-month average against the US dollar, with the current rate at 0.000664, about 3.1% weaker. Over the past week, the USD has faced choppiness amid escalating Middle East tensions and U.S. market uncertainty, which has kept safe-haven demand elevated at times. However, overall, the dollar has shown signs of slight weakening in recent days.
The KRW has also seen declines against other major currencies. It is near 60-day lows against the euro and Japanese yen, and at 90-day lows against the British pound and Australian dollar. These falls reflect ongoing concerns over South Korea's currency stability, driven by capital outflows and the country's inflation outlook, which has prompted policy reviews.
Despite these declines, the KRW has traded within relatively tight ranges. Investors remain cautious, watching global geopolitical developments and U.S. economic signals for further clues on the currency’s path. For now, expect the won to remain sensitive to external shocks, especially fluctuations in the dollar driven by geopolitical risk and U.S. market sentiment.
📊 Quick forecast view
Near-term bias: 🔴 Mild downside
Expected range: N/A
Dominant driver: 🌍 Global risk sentiment
