South Korean Won Weakens Against U.S. Dollar as Oil Prices Surge
The South Korean won has weakened against the U.S. dollar amid rising oil prices, raising inflation concerns.
The South Korean won has weakened against the U.S. dollar amid rising oil prices, raising inflation concerns.
On November 13, 2026, the South Korean won fell against the U.S. dollar, trading at 1,336.7 won per dollar, a decrease of 6 won from the previous day. This decline is attributed to a surge in global oil prices, which have been influenced by ongoing tensions in the Middle East.
Brent crude oil futures rose by 3.3 percent, reaching $95.82 per barrel, following comments from U.S. President Donald Trump that suggested no immediate need for a deal with Iran. Additionally, reports of explosions affecting oil tankers in the Strait of Hormuz have added to market uncertainties.
The weakening of the won raises concerns about potential inflationary pressures in South Korea, particularly as the country relies heavily on imported oil. Higher oil prices could lead to increased costs for consumers and businesses alike.
Foreign investors reacted by selling a net 550 billion won (approximately $411 million) in local shares during the latest trading session, contributing to a 0.98 percent drop in the benchmark Korea Composite Stock Price Index, which closed at 5,290.53. Analysts are closely monitoring these developments as they may significantly impact the South Korean economy.
Where it matters
Related coverage
Kia's Domestic Electrified Vehicle Sales Surpass 300,000 Units in 2026
ICT Ministry to Inspect Domestic Disruptions After Microsoft Services Outage
ICT Exports Reach Record Growth in October Amid AI Boom
