On the 7th, the won closed at 1,504.2 won against the U.S. dollar, down 2.1 won from the previous day. The rate rose early in the session to as high as 1,512 won before reversing lower into the low 1,500-won range.
In the Seoul foreign exchange market that day, the won–dollar rate opened at 1,508.7 won, up 2.4 won from the previous day's weekly transaction closing price. It then extended gains, surging to 1,512 won at about 11:05 a.m.
Early in the session, the rate tracked the dollar's movement and foreign investors' selling of domestic stocks. The U.S. dollar index, which shows the dollar's value against the six major currency, jumped to 100.159 at about 11:08 a.m. At the same time, in the KOSPI market, foreign investors were net sellers of 154.6 billion won in stocks, fueling the rate's rise. As foreign investors converted the won secured by selling stocks into dollars, the rate climbed.
However, in the afternoon, as the dollar index fell toward the 100.04 level, the rate turned lower again. Foreign investors also switched to net buying, adding to the rate's decline. Although foreign investors showed net selling early on, they later turned to buying and were net buyers of a total of 406.9 billion won in the main board. As a result, the KOSPI index ended at 5,494.78, up 44.45 points (0.82%) from the previous day.
Park Sang-hyun of iM Securities said, "On the 7th, the exchange rate moved in line with domestic stock trends amid a mix of expectations and anxiety over talks between the United States and Iran." Park added, "Exchange-rate uncertainty is likely to persist until 9 a.m. tomorrow (Korea time), the deadline presented by U.S. President Donald Trump."