The won-dollar exchange rate against the U.S. dollar closed at 1,476.4 won on the 6th. It rose 8.3 won from the previous day.
That day, the won-dollar exchange rate opened at 1,479 won, up 10.9 won from the previous day. It briefly topped 1,480 won right after the market opened, but the gains narrowed ahead of the close of weekly transactions (9 a.m.–3:30 p.m.).
The rise in the won-dollar exchange rate is seen as stemming from heightened concerns that the Middle East war could drag on. When geopolitical risks mount, market sentiment toward investing in risk assets weakens, and the won tends to fall.
Pete Hegseth, the U.S. Minister of the Ministry of National Defense (War Department), said at a press conference held on the 5th (local time) at MacDill Air Force Base in Tampa, Florida, home to U.S. Central Command headquarters, "We are not short on ammunition." He added, "Iran expects that we will not be able to sustain this operation," calling it "a very serious miscalculation by the Islamic Revolutionary Guard Corps (IRGC)."
As unease over the Middle East situation spreads, international oil prices are rising. Overnight on the New York Mercantile Exchange, West Texas Intermediate (WTI) for April delivery jumped 8.51% to settle at $81.01 per Barrel. It is the highest level in 1 year and 8 months since July 2024. Brent crude, the global benchmark, also closed up 4.93% at $85.41 per Barrel on the ICE Futures exchange in London.
Jeon Kyu-yeon, a researcher at Hana Securities, said, "If oil prices rise, the unit price of crude imports will increase, which could worsen Korea's terms of trade," adding, "The Middle East situation will narrow Korea's current account surplus and add depreciation pressure on the won."