The won-dollar exchange rate opened at 1,478 won on the 23rd. It rose 2 won from the previous day.
This is seen as the effect of the war between the United States and Iran appearing close to an end but not concluding. If a state of war continues, demand for risk assets tends to decline in the market, and as a non-reserve currency, the won tends to fall.
Overnight, news broke that a second cease-fire-ending negotiation between the United States and Iran could take place soon. The New York Post reported on the 22nd (local time), citing Pakistani sources mediating between the two countries, that an additional meeting between the United States and Iran could be possible within the next 36 to 72 hours. U.S. President Donald Trump also reportedly replied by text to reporters that a second cease-fire-ending negotiation was "possible."
In this regard, Iran said the United States' threatening posture is an obstacle to talks. Iran President Masoud Pezeshkian said on the social media platform X (formerly Twitter), "Malicious distrust, blockade, and threats are the main obstacles that truly block negotiations." He added, "The whole world is witnessing your (the United States') hypocritical empty words and is watching the contradictions that exist between your claims and actions."
Meanwhile, the White House says it has not set a deadline for the cease-fire. The previous day, President Trump said he had received a unified proposal from the Iranian government and would extend the cease-fire until talks conclude one way or the other. Some observers suggested the cease-fire period would be about three to five days, but the White House denied this.