The Korean won fell to a nearly two-month low against the U.S. dollar Friday as volatility persisted in financial markets amid the Middle East crisis. The won was quoted at 1,476.4 per dollar at 3:30 p.m., down 8.3 won from the previous session and its weakest level since Jan. 20, when it hit this year's low of 1,478.1 won. The won rebounded Thursday for the first time in four trading sessions after sharp losses over the previous three sessions, as the U.S.-Israeli military operation against Iran fueled a broad dollar rally. "Volatility in the exchange rate and other major financial indicators could persist depending on developments in the Middle East. We are closely monitoring market movements and preparing for responses," a Bank of Korea (BOK) official said. The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.02 percent, or 0.97 point, to 5,584.87 on Friday, a day after posting its largest-ever single-day gain of 490.36 points following panic selling earlier this week.