The Korean won-U.S. dollar exchange rate has shot up to eclipse one-thousand-220 won against the greenback during intraday trading on Monday.

As of 9:38 a.m. on the Seoul foreign exchange market, the won-dollar rate stood at one-thousand-223 won per dollar, or up eight-point-eight won from the previous trading day.

The last time the rate topped one-thousand-220 won during intraday trading was 21 months ago on June 2, 2020.

The dollar is extending gains as investors avert risks stemming from Russia’s invasion of Ukraine and the rise in global oil prices.

Foreign investors leaving the nation’s stock markets due to damaged investment sentiment is also pushing up the won-dollar exchange rate.