The won-dollar exchange rate against the U.S. dollar closed at 1,483.1 won on the 18th. It fell 10.5 won from the previous day.
The won-dollar exchange rate opened at 1,487 won, down 6.6 won from the previous day. At 9:40 a.m. it narrowed the decline, touching the 1,489-won level. However, it fell further ahead of the weekly transaction (9 a.m.–3:30 p.m.) close. It ultimately ended the transaction more than 10 won lower than the previous day.
The decline in the won-dollar exchange rate is seen as due to a rebound in risk appetite after major indexes on the U.S. New York stock market rose overnight. When risk appetite revives, the value of the won, which is not a reserve currency, tends to rise.
On the 17th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 46.85 points (0.1%) to close at 46,993.26. The Standard & Poor's (S&P) 500 gained 16.71 points (0.25%) to 6,716.09, and the Nasdaq composite climbed 105.35 points (0.47%) to 22,479.53.
On the same day, CNN in the United States reported that Iran is in talks with eight countries on the condition that it will not attack ships carrying oil transacted in Chinese yuan if they sail through the Strait of Hormuz. It did not disclose which eight countries they were.
Kim Yu-mi, a researcher at Kiwoom Securities, said, "It is difficult to predict the course of the Middle East war, but some positive signs are emerging regarding passage through the Strait of Hormuz," adding, "The sharp surge above 1,500 won (per $1) will be limited."