The won-dollar exchange rate against the U.S. dollar closed at 1,515.7 won on the 30th. It rose 6.8 won from the previous transaction day.
This is seen as the result of the prolonged war between the United States and Iran. Early this month, U.S. President Donald Trump said the war would end very quickly. But the war continued through the day, appearing to last for more than a month. When such geopolitical risk persists, the market's preference for risk assets falls. The value of the won, which is not a key currency, declines.
On the 29th (local time), President Trump said in an interview with the Financial Times, "I want to take Iran's oil." He added, "Some stupid people in the United States say, 'Why would you do that?' But they are stupid people."
Trump also said, "We could occupy Kharg Island, or we might not. We have many options," adding, "But if that happens, we would have to stay there for a period of time." Kharg Island is a coral island in the Persian Gulf that hosts an oil export terminal, located 26 km off the Iranian coast. It is known that 90% of Iran's crude oil exports pass through the island.
Park Sang-hyun, a researcher at iM Securities, said, "The won-dollar exchange rate is settling around the 1,500-won level," adding, "Only the pressure for won weakness is being highlighted."