Korean currency fell past the 1,500 won level against the U.S. dollar Monday as global oil prices surged amid heightened tensions in the Middle East. The won opened at 1,501.0 per dollar, down 7.3 won from the previous session. The weakness came as global oil prices spiked again overnight, reaching the highest level since 2022 of over $105 per barrel, as U.S. President Donald Trump suggested the war with Iran could last several more weeks and called on the international community to help reopen the Strait of Hormuz to oil tankers. The foreign exchange and stock markets have shown high volatility since last week as the U.S.-Israeli attacks on Iran have escalated tensions across the broader region.