The won-dollar exchange rate opened slightly higher.
As of 9:26 a.m. on June 16, the exchange rate in the Seoul foreign exchange market was 1,515.9 won per U.S. dollar, up 2.5 won from the opening rate of 1,513.6 won.
Overnight, U.S. stock markets surged following the announcement of a peace agreement between the U.S. and Iran. The Dow Jones Industrial Average closed up 468.77 points (0.92%) at 51,671.03, setting a new all-time high.
The Standard & Poor's 500 index rose by 122.83 points (1.65%) to finish at 7,554.29, while the Nasdaq Composite gained 795.10 points (3.07%) to close at 26,683.94.
International oil prices also saw a significant drop. Brent crude futures fell 4.9% to $83.20 per barrel, while West Texas Intermediate (WTI) futures dropped 4.8% to $80.75 per barrel, marking the lowest levels since the early days of the Middle Eastern conflict on March 10.
Min Kyung-won, an economist at Woori Bank, stated, "With falling international oil prices and a strong performance in global stock markets, the risk appetite is quickly recovering, which could lead to an influx of foreign capital into the domestic market. This will likely create a dollar supply advantage through offshore custody selling, driving the exchange rate lower."
* This article has been translated by AI.
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