Seoul: The Korean won dropped to its lowest level since 2009 against the US dollar on Friday, driven by escalating tensions in the Middle East and a significant net selling of local stocks by foreign investors.

According to Emirates News Agency, the won opened at 1,529 won per dollar, slightly up by 0.7 won from the previous session's close, but it quickly lost ground as foreign investors began offloading local shares. By 10:38 am, the won was quoted at 1,547.1 won per dollar, marking a decrease of 13.1 won from the previous session.

This level of intraday trading was the weakest since March 2009. As of Friday morning, foreign investors sold a net 1.4 trillion won (approximately US$900 billion) worth of local stocks. This marked the 20th consecutive trading session in which foreign investors remained net sellers of Korean stocks.

In a related development, the benchmark Korea Composite Stock Price Index saw a decline, plunging 4.55 percent to 8,246.1 by 10:44 am.