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Korean won briefly falls past 1,500 per dollar for 1st time since 2009

Published: 04 Mar. 2026, 10:11 Updated: 04 Mar. 2026, 17:28

A screen showing the Kospi, top center, and the foreign exchange rate between U.S. dollar and Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters in central Seoul, on March 3 [AP/YONHAP]

The Korean won briefly slid past the 1,500-per-dollar level on Tuesday, marking its first breach of the psychologically important level since 2009, as the greenback surged in value amid the ongoing U.S.-Israel military operations against Iran.

The won fell to nearly 1,506 won against the dollar at around 12:05 a.m. Wednesday, some 30 minutes after the New York market opened. It later recovered to trade back below the 1,500 mark.

The Korean currency hit 1,500 against the dollar for the first time since March 2009, when the world was reeling from the global financial crisis.

In March 2009, the Korean won tumbled, approaching the 1,600-won-per-dollar level.

Analysts said that the won's plunge this week was driven by the dollar's rally amid fears that the U.S.-Israel operation could escalate into a broader regional war in the Middle East that could last longer than expected.

Yonhap