The won-dollar exchange rate closed at 1,470.6 won on the 8th. That was down 33.6 won from the previous day. Based on weekly transaction closing prices (9 a.m.–3:30 p.m.), it was the lowest in about a month since on the 11th of last month (1,466.5 won).
This is seen as the result of the United States and Iran agreeing to a two-week cease-fire. When geopolitical risks ease, markets tend to revive appetite for investing in risk assets. In that case, the value of the won, which is not a key currency, rises.
U.S. President Donald Trump said on the 7th (local time) on his social media Truth Social, "We agree to suspend bombing and attacks against Iran for two weeks on the condition that Iran agrees to the complete, immediate, and safe opening of the Strait of Hormuz."
Until now, when President Trump made his position on the war, Iran repeatedly denied it. This time was different. Iran was also said to have agreed to a cease-fire with the United States.
According to the New York Times (NYT), Reuters, and others, Iran convened the Supreme National Security Council the same day and said it had won the war against the United States and Israel. It also said the United States accepted the end-of-war proposal presented by Iran. The proposal was reported to include Iran's control over navigation in the Strait of Hormuz and the withdrawal of U.S. combat troops.