'Black Friday' Won/Dollar Closes at 1,539... Intraday Surge Nears 1,550 (Update)

Weekly Trading Closes at 1,539.1 Won
Record Highs Continue as Intraday Rate Soars to 1,549 Won
"Market Views 1,550 Won as a Peak; Afternoon Sell Orders Likely Emerged"

Amid growing concerns over the prolonged Middle East war and aggressive selling of domestic stocks by foreign investors, the won/dollar exchange rate soared to nearly 1,550 won during intraday trading on June 5.

As the KOSPI plunged, threatening the 8000-point level due to the decline in U.S. tech stocks and other factors, and the won/dollar exchange rate continued its soaring trend, an employee at the dealing room of Hana Bank headquarters in Jung-gu, Seoul, is monitoring the stock market and exchange rates on June 5, 2026. Photo by Jo Yongjun

On this day, the won/dollar exchange rate closed weekly trading at 1,539.1 won as of 3:30 p.m. in the Seoul foreign exchange market, up 9.4 won from the previous trading day. This closing price is the highest since March 9, 2009 (1,549.0 won) during the global financial crisis.

The exchange rate, which opened at 1,529 won, surged sharply in early trading and quickly broke through the 1,540 won mark. In the morning, Deputy Prime Minister and Minister of Economy and Finance Koo Yuncheol issued a verbal intervention for the second consecutive day, stating, "We will respond with heightened vigilance to the recent increase in volatility in the financial and foreign exchange markets." However, this had little effect. Instead, the won/dollar exchange rate rose to 1,549.1 won at around 10:27 a.m., coming just shy of the 1,550 won level.

However, in the afternoon, the won/dollar rate underwent a partial downward adjustment, ending weekly trading below 1,540 won. Im Hwan-yeol, a researcher at Woori Bank, said, "The government consistently believes that the current exchange rate level is excessively high and continues to intervene verbally. The prevailing sentiment in the market seems to be that the current exchange rate is in a sell zone." He added, "The 1,550 won level itself serves as a significant resistance point, prompting a considerable amount of sell orders at that level."

Amid weakened hopes for a ceasefire agreement following military clashes between the United States and Iran, the net selling of domestic stocks by foreign investors pushed the exchange rate up further on this day. Foreign investors recorded a net sale of about 3.5 trillion won in the KOSPI market. This marks the 20th consecutive trading day of net selling, with cumulative net sales during this period approaching 70 trillion won.

Meanwhile, the won/dollar exchange rate has been rising for three consecutive days since June 2. During this period, the exchange rate jumped by an average of 11.6 won per day. Based on the weekly closing price, the rate has remained above 1,500 won for 14 consecutive trading days since May 15. Researcher Im noted, "Whether the 1,500 won level will be sustained is highly uncertain, as it is closely linked to the Middle East issue. The rate has broken through a 17-year high, and since this is an unprecedented level, the market is considering the possibility of it exceeding 1,600 won."

This content was produced with the assistance of AI translation services.