The won-dollar exchange rate closed at 1,482.5 won on the 9th, up 11.9 won from the previous day.
This is seen as reflecting the fact that, although the United States and Iran agreed to a cease-fire, military tensions remain. When geopolitical risks persist, demand to invest in risk assets falls in the market, and the value of the won, which is not a key currency, tends to decline.
U.S. President Donald Trump said on the 9th (local time) on his social media Truth Social toward Iran, "If for any reason the agreement is not carried out, then immediately, fire will commence in a larger and stronger manner than anyone has ever seen." He also said, "All U.S. Navy ships, aircraft, personnel, munitions, and weapons systems necessary to lethally strike and destroy an already significantly weakened enemy will remain in and around Iran until a real agreement is reached and fully implemented." He added, "That possibility is very low."
Traffic through the Strait of Hormuz is not running smoothly. The Wall Street Journal (WSJ) reported that Iran is preparing a plan to limit ship passage through the Strait of Hormuz to about 10 vessels per day and to impose transit fees. According to the report, Iran is demanding prior coordination with the Islamic Revolutionary Guard Corps (IRGC) for ships passing through the Strait of Hormuz. It was also reported that the fees are being requested in virtual assets or Chinese yuan.
Meanwhile, the United States and Iran will hold their first face-to-face meeting since the Middle East war on the 11th in Islamabad, Pakistan. Karoline Leavitt Spokesperson said at a briefing on the 8th (local time), "We can announce that Vice President JD Vance, Special Envoy Steve Witkoff, and a negotiating team led by Jared Kushner, (Trump's eldest son-in-law), will be dispatched."