The won-dollar exchange rate opened at 1,493 won on the 9th, up 16.6 won from the previous trading day. Based on the opening price, this is the highest level in 17 years since Mar. 12, 2009 (1,500 won) during the global financial crisis.
This is seen as the result of Iran electing a new supreme leader, making it unlikely that tensions with the United States will be resolved. If the Middle East crisis drags on, the closure of the Strait of Hormuz will also be prolonged, which would push up crude oil prices and consumer prices and likely threaten Korea's economic growth rate.
That morning, international oil prices topped $100 per Barrel. On the New York Mercantile Exchange, the price of West Texas Intermediate (WTI) futures stood at $107.54 per Barrel as of 7:26 a.m. Korea time. It is the first time since July 2022 that WTI has exceeded $100 per Barrel.
On the 8th (local time), Iran's state-run Tasnim news agency reported that Mojtaba (57), the second son of Ayatollah Ali Khamenei who was killed in U.S.-Israeli airstrikes, was elected as his successor. Mojtaba is known to have served as the de facto leader of the Basij militia under the Islamic Revolutionary Guard Corps (IRGC).
In response, U.S. President Donald Trump said in an ABC interview, "A new leader who does not have my approval will not last long." Reuters had reported that even before Iran's supreme leader was elected, when Mojtaba emerged as a strong contender, "If this move (the selection of the supreme leader) is confirmed, it could draw the ire of President Trump, who has insisted he should play a role in choosing the next leader."