South Korean won rises to 6-month high against US dollar

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ISTANBUL (AA) – South Korea’s currency won rose around 0.4% against the US dollar on Wednesday, reaching its highest value in around six months.

The won was trading around 1,387.9 won per US dollar as of 0845GMT on Wednesday. It was the highest since the currency was reported at 1,336.4 won on Nov. 8, 2024.

The strength of the won coincided with the start of a second round of working-level talks between the US and South Korea on Tuesday in Washington about the tariff plan of the Donald Trump administration.

On the fringes of the Group of Seven (G7) Finance Ministers and Central Bank Governors' Meeting now underway in Canada, the US and Japan are scheduled to hold currency and tariff-related discussions, according to the Korean state news agency Yonhap.

The won had previously depreciated sharply, approaching 1,500 won to the dollar, mostly as a result of political unrest when former President Yoon Suk Yeol imposed martial control in December and worries about the Trump administration's expansive tariff plan.

However, in recent weeks, the currency has made some progress and is now hovering around 1,400 won.