(2nd LD) S. Korean currency slips to fresh 17-yr low against U.S. dollar amid Iran crisis | Yonhap News Agency

## Summary
OK (ATTN: RECASTS headline, lead with latest; ADDS details throughout) SEOUL, March 16 (Yonhap) -- The South Korean currency fell to a 17-year low against the U.S. dollar Monday as global oil prices surged amid heightened tensions in the Middle East. The won was quoted at 1,497.5 per dollar at 3:30 p.m., down 3.8 won from the previous session, marking its weakest level since March 10, 2009, when the won hit 1,511.1 during the global financial crisis. The Strait of Hormuz, a key waterway controlled by Iran, has been effectively shut since the start of the U.S.-Israeli strikes on Iran earlier this month. "Fears of a prolonged conflict are fueling a sharp rise in oil prices and strengthening the dollar," Park Sang-hyun, an analyst at iM Securities, said. "If high oil prices persist due to growing uncertainty over the situation, the won is likely to settle around the 1,500 won level." The domestic foreign exchange and stock markets have shown high volatility since last week amid heightened geopolitical tensions. The benchmark Korea Composite Stock Price Index (KOSPI) rose 62.61 points, or 1.14 percent, to 5,549.85 Monday, ending a two-day losing streak, led by gains of large-cap tech shares. graceoh@yna.co.kr (END) Related Articles (News Focus) Iran crisis sharply weakens Korean won, fueling inflation, economic fallout concerns BOK to maintain cautious monetary stance amid uncertainties over Middle East crisis Ruling party vows to pass tax bill this month to help stabilize foreign exchange market Current account surplus expected to ease downward pressure on Korean won: BOK Finance minister says verbal intervention possible over sharp won decline Keywords #FX market #volatility Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones (2nd LD) N.

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OK
(ATTN: RECASTS headline, lead with latest; ADDS details throughout)
SEOUL, March 16 (Yonhap) -- The South Korean currency fell to a 17-year low against the U.S. dollar Monday as global oil prices surged amid heightened tensions in the Middle East.
The won was quoted at 1,497.5 per dollar at 3:30 p.m., down 3.8 won from the previous session, marking its weakest level since March 10, 2009, when the won hit 1,511.1 during the global financial crisis.
The won opened at 1,501 per dollar Monday, breaching the significant psychological and technical barrier of the 1,500 won mark for the first time in regular trading hours since March 2009.
The currency later trimmed its losses and fluctuated in the upper 1,490 won range before ending the session with a modest decline.
Officials work at a dealing room of Hana Bank in Seoul on March 16, 2026. (Yonhap)
The won's weakness came as global oil prices rose to a multi-year high, with U.S. President Donald Trump suggesting the conflict with Iran could last several more weeks and calling on the international community to help reopen the Strait of Hormuz to oil tankers.
Brent crude, the global benchmark, rose 2.9 percent to about $106.12 a barrel on Sunday (U.S. time). U.S. oil also rose to over $100.
The conflict has entered its third week, causing serious disruptions to global oil supplies.
The Strait of Hormuz, a key waterway controlled by Iran, has been effectively shut since the start of the U.S.-Israeli strikes on Iran earlier this month.
"Fears of a prolonged conflict are fueling a sharp rise in oil prices and strengthening the dollar," Park Sang-hyun, an analyst at iM Securities, said. "If high oil prices persist due to growing uncertainty over the situation, the won is likely to settle around the 1,500 won level."
The domestic foreign exchange and stock markets have shown high volatility since last week amid heightened geopolitical tensions.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 62.61 points, or 1.14 percent, to 5,549.85 Monday, ending a two-day losing streak, led by gains of large-cap tech shares.
graceoh@yna.co.kr
(END)
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(2nd LD) S. Korean currency slips to fresh 17-yr low against U.S. dollar amid Iran crisis

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## Expert Analysis

### Merits
- The won opened at 1,501 per dollar Monday, breaching the significant psychological and technical barrier of the 1,500 won mark for the first time in regular trading hours since March 2009.

### Areas for Consideration
- Officials work at a dealing room of Hana Bank in Seoul on March 16, 2026. (Yonhap) The won's weakness came as global oil prices rose to a multi-year high, with U.S.
- The benchmark Korea Composite Stock Price Index (KOSPI) rose 62.61 points, or 1.14 percent, to 5,549.85 Monday, ending a two-day losing streak, led by gains of large-cap tech shares. graceoh@yna.co.kr (END) Related Articles (News Focus) Iran crisis sharply weakens Korean won, fueling inflation, economic fallout concerns BOK to maintain cautious monetary stance amid uncertainties over Middle East crisis Ruling party vows to pass tax bill this month to help stabilize foreign exchange market Current account surplus expected to ease downward pressure on Korean won: BOK Finance minister says verbal intervention possible over sharp won decline Keywords #FX market #volatility Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones (2nd LD) N.

### Implications
- OK (ATTN: RECASTS headline, lead with latest; ADDS details throughout) SEOUL, March 16 (Yonhap) -- The South Korean currency fell to a 17-year low against the U.S. dollar Monday as global oil prices surged amid heightened tensions in the Middle East.
- President Donald Trump suggesting the conflict with Iran could last several more weeks and calling on the international community to help reopen the Strait of Hormuz to oil tankers.
- The benchmark Korea Composite Stock Price Index (KOSPI) rose 62.61 points, or 1.14 percent, to 5,549.85 Monday, ending a two-day losing streak, led by gains of large-cap tech shares. graceoh@yna.co.kr (END) Related Articles (News Focus) Iran crisis sharply weakens Korean won, fueling inflation, economic fallout concerns BOK to maintain cautious monetary stance amid uncertainties over Middle East crisis Ruling party vows to pass tax bill this month to help stabilize foreign exchange market Current account surplus expected to ease downward pressure on Korean won: BOK Finance minister says verbal intervention possible over sharp won decline Keywords #FX market #volatility Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones (2nd LD) N.
- Korea, U.S. conduct joint drills BTS to launch 'Arirang' pop-ups to mark new album release Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N.

### Expert Commentary
This article covers won, korea, korean topics. Notable strengths include discussion of won. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 696.