The local currency strengthened against the U.S. dollar to its strongest level in some six months on Wednesday amid a wait-and-see attitude surrounding the U.S.-Japan foreign exchange negotiation.

The Korean won gained five-point-two won against the U.S. dollar from the previous day, with Wednesday’s Seoul closing spot rate at 3:30 p.m. standing at one-thousand-387-point-two.

The exchange rate is at its strongest since November 8, 2024, when it was one-thousand-386-point-four won against the greenback.

The local currency’s strength comes as investors eye the U.S. and Japan's exchange negotiation that is set to take place on the margins of the Group of Seven(G7) finance ministers' meeting that kicked off in Banff, Canada Tuesday.

The Japanese yen also gained zero-point-64 percent against the dollar to 143-point-55.

South Korea and the U.S., for their part, began a second round of working-level discussions in Washington on Tuesday regarding the Trump administration's tariff policy.