Rate nears 1,560 in after-hours trading
![A Hana Bank employee sorts dollar bills at the bank's counterfeit response center. South Korea's foreign exchange reserves fell by roughly 9 trillion won last month as authorities used reserves to defend the won. [Yonhap]](https://wimg.heraldcorp.com/news/cms/2026/06/06/rcv.YNA.20260604.PYH2026060415910001300_P1.jpg)
The won-dollar exchange rate briefly broke through the 1,560-won-per-dollar level in after-hours trading Saturday, bringing the intraday high of 1,597 won recorded in 2009 — just after the Lehman Brothers collapse — increasingly within reach.
The won closed at 1,559.0 per dollar in after-hours trading on the Seoul foreign exchange market Saturday, nearly 20 won weaker than the previous day's daytime close.
The rate touched 1,561.5 won per dollar at its peak during the session, the highest since the March 2009 high of 1,597.0 won during the global financial crisis — a gap of 17 years and three months.
During Friday's daytime session, the rate had peaked at 1,549.1 won before closing around 1,539.1 won. It then resumed a sharp climb in after-hours trading following the release of US employment data.
US labor market conditions proved unexpectedly resilient in May, stoking fears that the Federal Reserve could raise interest rates before year-end and souring investor sentiment. The dollar strengthened broadly in response, pushing the dollar index — which measures the greenback against six major currencies — above 100 for the first time since April.
Domestic factors added to the pressure on the won, including foreign investors selling Korean shares and the prolonged war in the Middle East, both of which have amplified downward pressure on the currency.
Meanwhile, as of 8 a.m. Saturday, the won was trading around 973 won per Japanese yen, while the Chinese yuan crossed the 229-won mark.
choijh@heraldcorp.com
