The won-dollar exchange rate opened at 1,492 won on the 20th. It was down 9 won from the previous day.
This is seen as the result of the United States, at war with Iran, sending a message to refrain from escalation, which revived investor appetite for risk assets. When demand in the market to invest in risk assets increases, the value of the won, which is not a key currency, tends to rise.
U.S. President Donald Trump said on the 18th (local time) on the social network service Truth Social that as long as Iran does not attack Qatar, Israel will also stop attacking the South Pars facility. The market interpreted this as a message to Iran that both sides want to avoid escalation that would include energy infrastructure as targets.
The next day, U.S. Treasury Minister Scott Bessent also hinted in an interview with local media that sanctions could be lifted on Iranian crude oil tied up aboard tankers. Minister Bessent said, "In the next few days, we could lift sanctions on Iranian crude oil at sea." He added, "Essentially, by using Iranian crude oil to keep Iran in check, we aim to keep oil prices low over the next 10–14 days."
Because of this, international oil prices, which had surged to $120 per Barrel during the session, pared gains before the close. On the 19th (local time) at the ICE Futures Europe in the United Kingdom, Brent crude futures for May delivery settled at $108.65 per Barrel. That was up 1.2% from the previous session. Prices hit $119.13 intraday before giving back gains.