The won-dollar exchange rate opened at 1,471 won on the 15th, down 10.2 won from the previous day.
This is seen as reflecting growing expectations that the United States and Iran will again enter cease-fire talks. If that happens, demand to invest in risk assets tends to increase in the market, and the won, a non-reserve currency, tends to rise.
U.S. President Donald Trump said in a phone interview with the New York Post on the 14th (local time) about cease-fire talks with Iran, "Something could happen within the next two days, and the likelihood that we will go there has grown." He hinted at the possibility of a second face-to-face meeting with Iran in Islamabad, Pakistan, within two days.
President Trump said, "Do you know why the likelihood is higher?" and added, "Because the top military official (field marshal) is doing very well." The top military official he mentioned is believed to be Asim Munir, Pakistan's army chief. Munir is considered a power broker in Pakistan and is said to have played a key role in bringing about the first round of U.S.-Iran talks held on the 11th.
Park Sang-hyun, a researcher at iM Securities, said, "If the cease-fire talks (between the United States and Iran) are concluded, the domestic 'triple' strength (stock prices, bond prices and the won) is likely to continue for the time being along with a further sharp drop in oil prices."