Sources said South Korea’s National Pension Service has paused foreign-exchange
hedging — it had been selling dollars to hedge overseas assets — after the
won-dollar rate hit a near two-year high. The source added hedging is suspended
and there appears to be dollar-buying demand today. NPS did not immediately
respond to a request for comment. Earlier Monday the won weakened 1.15% to
1,334.7 per dollar, its weakest since Oct. 4, 2024, after a major source of
dollar supply temporarily dried up, leaving dollar bids unmet.
