The won-dollar exchange rate opened at 1,479.5 won on the 22nd, up 11 won from the previous day.
This is seen as the result of unresolved tensions between the United States and Iran. In such cases, risk appetite in the market tends to weaken, and the value of the won, which is not a reserve currency, tends to fall.
Overnight, U.S. President Donald Trump extended the cease-fire with Iran. He extended it a day before the two-week truce was set to expire. On the 21st (local time), Trump said on Truth Social that he had received a request to halt an attack on Iran until Iran's leadership and negotiating team prepare a unified proposal, in light of the fact—"as expected"—that the Iranian government is seriously divided, and at the request of Pakistan's army chief, Asim Munir, and Prime Minister Shehbaz Sharif. He added that the cease-fire would be extended until their proposal is submitted and discussion (discussion; negotiations between the two countries) is concluded one way or the other. He did not set a specific end date for the truce.
The same day, Iran said it would not acknowledge the announcement extending the truce. Iran's state broadcaster reported that the country would act according to its national interest. That signaled it would not accept Trump's cease-fire declaration. Aide to Iranian parliament speaker Mohammad Baqer Qalibaf said on X (formerly Twitter) that "Trump's cease-fire extension is clearly a ploy to buy time for a surprise attack."