Won-Dollar Exchange Rate Falls to 1,504 Won Following U.S.-Iran Peace Agreement

Following the agreement to end the war between the United States and Iran, the won-dollar exchange rate fell to 1,504 won during intraday trading shortly after the market opened on the 15th.

In the Seoul foreign exchange market, the won-dollar exchange rate was recorded at 1,504.0 won as of 9:07 a.m. today.

This marks the lowest intraday low since June 1, when it reached 1,500.0 won.

The exchange rate opened at 1,511.4 won, down 8.4 won from the previous trading day's closing price of 1,519.80 won, and subsequently expanded its decline.

The U.S. dollar is weakening as global risk-on sentiment flows into the market following the U.S.-Iran peace agreement.

U.S. President Donald Trump announced on his social media platform, Truth Social, at approximately 5:30 p.m. on the 14th (U.S. Eastern Time) that "the agreement with the Islamic Republic of Iran has now been finalized."

The Middle East war, which began with U.S. and Israeli airstrikes on Iran on February 28, has effectively ended 106 days after the conflict began.

This comes about two months after both sides entered a ceasefire on April 8 and began negotiations.

The signing ceremony for the end of the war is scheduled to be held in Switzerland on the 19th.

President Trump also stated on social media that the Strait of Hormuz would be opened immediately following the signing of the agreement and that the U.S. naval blockade against Iran would be lifted.

As a result, international oil prices are also falling.

The price of West Texas Intermediate (WTI) futures has dropped to the 80-dollar-per-barrel level, and Brent crude futures for delivery were trading at the 84-dollar-per-barrel level.

News that South Korean and U.S. foreign exchange authorities agreed over the weekend to cooperate in response to the weakness of the won has also created favorable conditions for the currency to strengthen.

Moon Ji-sung, Assistant Minister for International Affairs at the Ministry of Economy and Finance, visited the United States on the 12th to meet with high-ranking officials from the U.S. Department of the Treasury to discuss recent trends in the foreign exchange market.

It is reported that both sides emphasized that, considering the fundamentals of the South Korean economy, the recent weakness of the won is excessive and difficult to justify.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.