Dollar Rises Against Korean Won to 1,503.40 KRW on July 13, Up 0.13% as Foreign Investors Sell Stocks

According to Yonhapinfomax, the U.S. dollar climbed to 1,503.40 Korean won on July 13, up 2.00 won (0.13%) from the previous day's close of 1,501.40 won. Foreign investors' stock sell-offs and strong dollar momentum drove the gain, while a $2 billion-plus forward forex sale by Hanwha Ocean in afternoon trading limited the upside.

The escalation of armed conflict between the U.S. and Iran supported the dollar and lifted oil prices, with the dollar index reaching 101.22 in Asian trading and WTI crude futures climbing to $74 per barrel. South Korea's KOSPI fell 8.95% with a circuit breaker triggered, prompting foreign investor selling worth 1.6 trillion won in equities.