The won-dollar exchange rate dropped to the 1,410-won range during trading today (August 6).

This marks the lowest level in approximately 10 months since October of last year, when it recorded the 1,399-won range.

The decline in the exchange rate is analyzed to have been driven by lower global oil prices following news that Iran and Oman are finalizing a tentative agreement to reopen the Strait of Hormuz, along with dollar inflows resulting from SK Hynix's American Depositary Receipt (ADR) listing and the strengthening Japanese yen.