The won-dollar exchange rate closed at 1,493.7 won on the 13th against the U.S. dollar. It rose 12.5 won from the previous day. The move is seen as driven by increased market preference for safe-haven assets amid signs that military clashes between the United States and Iran may be prolonged.
On the day, U.S. President Donald Trump said on his social networking service Truth Social, aiming at Iran, "Watch what happens to these crazy pieces of trash today." Trump also said, "We are totally destroying Iran, the terrorist regime, militarily, economically, and in every other way." He added, "We have unmatched firepower, unlimited ammunition, and plenty of time."
Iran is not backing down, either. On the 12th (local time), Iran's supreme leader Ayatollah Mojtaba Khamenei said on state TV that "we must continue to use the lever of closing the Strait of Hormuz as a means of pressuring the enemy (the United States and Israel)." It is interpreted as a plan to hold the Strait of Hormuz, through which 20% of the world's crude shipments pass, hostage to pressure the United States.
In response, international oil prices topped $100. On the day Mojtaba's remarks were made, May delivery Brent futures settled at $100.46 per barrel on the ICE Futures U.K. exchange. That was up 9.2% from the previous day.