The won-dollar exchange rate closed at 1,474.2 won on the 15th. That was down 7 won from the previous day.
This is seen as the result of growing expectations that U.S.-Iran cease-fire talks will resume. If that happens, risk appetite tends to revive in the market, and the won, which is not a reserve currency, tends to rise in value.
U.S. President Donald Trump on the 14th (local time) hinted at the possibility of entering renewed face-to-face talks with Iran in an interview with the New York Post. Regarding a cease-fire negotiation with Iran, Trump said, "Something could happen within the next two days, and that's because the chances we go there have grown."
In an interview the same day with Fox Business, Trump said of the war with Iran, "I think it's almost over." Trump also said, "I see it as very close to a state of being concluded." In turn, some suggested the United States and Iran could hold a second meeting in Islamabad, the capital of Pakistan.
Park Sang-hyun, a researcher at iM Securities, said, "There were also concerns that the breakdown of the first cease-fire talks could amplify Iran-related risks," but added, "In financial markets, the mood still places more weight on progress in the talks than on the possibility of a complete breakdown."