The won-dollar exchange rate is trading in the 1430 won range.
As of 9:26 a.m. in the Seoul foreign exchange market, the exchange rate stands at 1433.5 won against the U.S. dollar.
At the same time, the dollar index, which measures the dollar's value against six major currencies, has decreased by 0.15% to 99.77.
This decline in the dollar is interpreted as a response to U.S. President Donald Trump's announcement of plans to resume negotiations with Iran.
International oil prices are also experiencing significant declines. During morning trading in Asia, Brent crude fell by over 7% at the start but later reduced its losses, trading at $83.79 per barrel, down 4.71%. West Texas Intermediate (WTI) crude is down 4.67%, trading at $80.72 per barrel.
Futures on the New York Stock Exchange showed strength, with S&P 500 futures rising by 0.5% and Nasdaq 100 futures increasing by 0.8%.
The exchange rate is expected to decline as the strong dollar weakens. Min Kyung-won, an economist at Woori Bank, stated, "We anticipate a decrease due to the easing of geopolitical uncertainty in the Middle East, which will stabilize interest rates and restore risk appetite. We expect the drop in international oil prices to lead to a decline in U.S. Treasury yields, which had been a source of market volatility late last week."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.