USD-KRW eases after testing above 1,1470 after verbal intervention

SEOUL, November 13 (AJP) -The U.S. dollar softened after briefly topping 1,470 won during Thursday’s session in Seoul, as investment jitters eased following President Donald Trump’s signing of a bill to end the longest-ever U.S. government shutdown. 

The Korean won, already down 2 percent this month, initially faced renewed downward pressure as foreign investors took profits after their record stock buying, while the greenback strengthened on Washington’s return to normal operations. Selling by foreign investors — coupled with a weakening yen that underscored the recent pattern of bundling Korean and Japanese assets — further weighed on the local currency. 

But the removal of uncertainty surrounding the U.S. shutdown helped curb foreign stock selling and reversed the dollar’s direction, pushing it down to 1,467.70 won as of 1:20 p.m. Verbal intervention from Bank of Korea Governor Rhee Chang-yong also helped stabilize sentiment. 

In an interview with Bloomberg TV, Rhee cautioned that authorities could step in if currency movements become “excessive,” while noting that multiple forces — AI-driven stock volatility, dollar strength, Japan’s policy path, U.S.–China trade tensions, and Korea–U.S. investment frameworks — are simultaneously pressuring the exchange rate, limiting the scope for containing the won’s depreciation. 

Still, Min Kyung-won, an economist at Woori Bank, suggested signs of interventionist impact.