The South Korean won hovered around 1,510 per dollar, staying close to its weakest levels since 2009, as global risks and persistent capital outflows continued to pressure the currency. Crude oil prices remained elevated near $100 per barrel amid ongoing tensions in the Middle East, keeping imported inflation risks in focus. Further downward pressure came from sustained capital outflows, with substantial net selling by foreign investors boosting demand for the US dollar and weighing further on the won. Meanwhile, US President Donald Trump indicated that military operations in Iran could conclude within weeks. This improved market sentiment and eased some oil-driven inflation concerns, but the won’s recovery remained constrained by structural headwinds. The Bank of Korea has signaled its readiness to intervene if volatility intensifies, helping to contain additional losses. In the near term, the won is expected to trade within a narrow range.