Shin Hyun-song, Governor of the Bank of Korea, stated his position to resolutely address the one-sided movement in the exchange rate. According to Yonhap News, he added, "If the situation in the Middle East progresses, I believe there is significant room for the won to strengthen considerably. The most crucial factor for the won's weakness is the Middle East situation. The Middle East situation stimulates market dynamics such as risk-off sentiment. In oil-importing countries, exchange rates are significantly affected by oil prices." Currently, the dollar-won exchange rate is trading at 1506.78, up 0.41% from the previous day.
