The won-dollar exchange rate against the U.S. dollar closed at 1,483.5 won on the 17th. It rose 8.9 won from the previous day.
Until now, the won-dollar exchange rate fell when the United States and Iran made progress in cease-fire talks, but it rose on this day. As the talks may not proceed smoothly, the market is seen as taking a wait-and-see stance for now.
U.S. President Donald Trump said on the 16th (local time) at the White House, after meeting with reporters, that there had been significant progress in talks with Iran. Trump said a second face-to-face meeting with Iran could take place over the weekend. He said, "Iran agreed to almost everything. The chances of a deal being reached are high." He added, "If an agreement is not reached, fighting will resume."
On the same day, a resolution to halt the Middle East war was voted down in the U.S. Congress. The U.S. House of Representatives voted on a "War Powers Resolution" that would withdraw U.S. troops from Iran except when needed for defense, but it failed to pass with 213 votes in favor and 214 against.
Jeong Yong-taek, a researcher at IBK Securities, said, "The initial psychological shock that was urgently reflected in the market due to this war issue is clearly easing," adding, "As financial market participants and economic agents become accustomed to the 'bad news' of war, sensitivity is easing."