Seoul:The South Korean won saw an increase in value against the U.S. dollar on Thursday, following the Bank of Korea's (BOK) decision to maintain its key interest rate. The central bank, however, indicated the possibility of future monetary tightening.
According to Yonhap News Agency, the won was quoted at 1,324.2 per dollar at 330 p.m., marking an increase of 1 won from the previous stock trading session's close. This marks the fifth consecutive session in which the won has reached its highest level since October 2, 2024.
In a decision anticipated by many, the BOK kept its key rate steady at 3 percent during its rate-setting meeting earlier in the day. BOK Governor Shin Hyun-song commented that the won "is still undervalued in terms of effective exchange rate."
Since June, the won has appreciated from approximately 1,560 won per U.S. dollar to around 1,320 won per dollar, reflecting a significant strengthening over the past few months.