The won-dollar exchange rate is displayed on a screen at a dealing room in Hana Bank, Seoul, Thursday. Yonhap
The Korean won sharply weakened against the U.S. dollar Thursday due to renewed tensions in the Middle East as the United States and Iran engaged in a fresh round of airstrikes.
The won opened at 1,530.8 won per dollar, down 13.6 won from the previous session's close, but recouped some losses after Finance Minister Koo Yun-cheol warned that authorities will take actions to address excessive volatility in the foreign exchange market.
Koo also pledged to take measures to respond to excessive volatility in the bond market, according to the finance ministry.
It was the first time since March 31 that the Korean currency traded below 1,530 won per dollar in intraday trading.
