On the 6th, the won opened at 1,510.3 won per U.S. dollar, up more than 5 won.
In the Seoul foreign exchange market that day, the won-dollar rate opened at 1,510.3 won, up 5.1 won from the prior transaction day (the 3rd) weekly session close (as of 3:30 p.m.). It is the third straight session that the rate has started in the 1,510-won range, from on the 2nd (1,512.2 won) through that day.
Over the weekend, the United States and Iran continued attacks without a cease-fire, heightening geopolitical risks. U.S. President Donald Trump, in a post on his social networking service Truth Social that included profanity, pressed, "Open the Strait of Hormuz within 48 hours." In response, Iran rejected the ultimatum and raised the level of its response, mentioning the possibility of attacking the Red Sea, seen as a detour to the Strait of Hormuz.
This instability in the Middle East is a factor that fuels won weakness. If the war drags on, demand will increase for safe-haven assets such as U.S. Government Bonds or gold, while investor sentiment toward the relatively risky won will cool.
Min Kyung-won, a Woori Bank researcher, said, "Today's exchange rate is expected to rise as risk appetite weakens due to the worsening Iran war situation," adding, "However, exporters' selling at highs and wariness over foreign exchange authorities' market intervention are likely to cap the upside."