Business · Markets · 1 hr ago
South Korean Won Reaches Two-Year High as Oil Prices Fall
South Korea’s currency, the won, rose to its highest level in two years on Monday.
Lower oil prices helped support the rise.
Local companies also sold large amounts of US dollars.
When companies sell dollars, that can increase demand for the won.
The news describes these factors as support for the currency’s gain.
It does not say what will happen to the won next.
The South Korean won reached a two-year high on Monday.
Lower oil prices and heavy dollar selling by local companies supported the currency.
Bloomberg reported the move on October 12, 2026.
- Who
- The South Korean won and local companies selling dollars.
- What
- The won jumped to a two-year high, supported by lower oil prices and heavy dollar selling.
- When
- Monday; the article was published on October 12, 2026.
- Where
- South Korea.
- Why
- Lower oil prices and heavy dollar selling by local companies supported the won.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
This story does not have a timeline yet.
- Currency
- South Korean won
- Milestone
- Two-year high
- Date
- Monday, October 12, 2026
- Supporting factors
- Lower oil prices and heavy dollar selling by local companies
Sources
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