Connecting decision makers to a dynamic network of information, people, and ideas, Bloomberg quickly and accurately delivers business and financial information, news, and insight around the world.

South Korea’s tumbling won looks set for further declines as higher energy prices threaten growth in the world’s eighth-largest oil consumer, according to forecasters at some of the biggest global banks.

The won slumped more than 4% at one stage on Tuesday, marking its biggest drop since 2010, as concerns about the Iran war dented sentiment toward risk assets. The currency slid beyond the closely watched 1,500 per dollar level, reaching its weakest point since the global financial crisis.

It retraced part of its losses at the Wednesday open.
https://www.bloomberg.com/news/articles/2026-03-04/won-s-epic-plunge-may-just-be-start-of-bigger-losses-banks-say