Korean Won Weakens, Heads for Longest Losing Streak Since 2008

The South Korean won weakened for a ninth straight day against the dollar, heading for its longest losing streak since 2008 as local investors continue to channel funds abroad.

The currency slipped as much as 0.4% to 1,473.40 per dollar, extending its decline to more than 2% from around 1,440 at the end of last year.

Authorities’ to stabilize the won have so far failed to shift sentiment, with unfavorable external conditions and persistent supply-demand imbalances weighing on the currency.

Dollar strength — underpinned by geopolitical tensions in Latin America and the Middle East, alongside resilient US economic data — has erased much of the won’s late-2025 gains. Meanwhile, domestic appetite for overseas assets remains firm, while foreign investors continue to be net sellers of Korean equities.