The won-dollar exchange rate closed at 1,469.3 won on the 10th. It fell 26.2 won from the previous day.
It is seen as the result of falling international oil prices and growing expectations that the war between the United States and Iran will end early. When geopolitical tensions ease, markets tend to increase investment in risk asset, and the won, which is not a key currency, tends to rise.
International oil prices, which had topped $100 per barrel the previous day, fell to the $80 level on the day. The move followed a joint statement by finance ministers of the Group of Seven (G7) saying they could take measures such as releasing strategic reserves in response to the surge in oil prices.
Also on the 9th (local time), U.S. President Donald Trump said in an interview with local media, "I think the war is in its final phase." President Trump said, "They (the Iranian military) have no navy, no communications and no air force," adding, "They had better not try any clever moves. Otherwise that country will be finished."
Park Sang-hyun, a researcher at iM Securities, said, "President Trump has outlined an exit strategy for the Middle East war, but he can reverse his remarks at any time, so the sparks from Iran have not been completely extinguished," adding, "It appears time will be needed until the situation is fully resolved."