The Korean won rose to its highest level since early November.

On Friday, the exchange rate of the South Korean won rose to its highest level since early November, continuing the upward trend from the previous trading days as policymakers attempted to curb the recent weakness of the won. The won rose by 1.2% to 1429.85 won per dollar, extending the 2.3% gain from Wednesday as domestic markets reopened after the Christmas holiday. After approaching its lowest point in 16 years, the South Korean currency reversed its trend, with authorities warning of taking tough measures against excessive depreciation. "The verbal intervention before Christmas Eve still has some effect, combined with more optimistic risk sentiment, a weaker dollar, and a strong renminbi exchange rate, all contributing to the rise of the won," said Christopher Wong, currency strategist at Oversea-Chinese Banking Corporation. He added that if the dollar falls below 1,415 won, the USD/KRW may continue to decline in 2026.