The South Korean won climbed to around 1,433 per dollar on Friday, extending gains for another session as optimism grew over policy measures aimed at supporting the currency. Authorities, including the Bank of Korea and the Ministry of Economy and Finance, have engaged in verbal interventions to ease market stress, while the ministry unveiled measures to boost foreign exchange supply and demand through domestic investment incentives and tax adjustments. Further supporting the momentum, sentiment was strengthened by the Bank of Korea’s announcement of seven local and five foreign banks designated as market makers for direct won-yuan trading in 2026. The institutions will facilitate interbank and customer spot transactions without U.S. dollar conversion, provide market liquidity, and offer a structural backstop that complements short-term efforts to stabilize the won.
