The won-dollar exchange rate closed at 1,481 won on the 23rd against the U.S. dollar. It rose 5 won from the previous day.
This is seen as the result of war-end talks between the United States and Iran barely progressing. If geopolitical tensions are not resolved, demand for risk assets in the market tends to fall, and the won, which is not a key currency, tends to weaken.
Overnight, the Iranian side said a cease-fire was meaningless due to the U.S. maritime blockade. Mohammad Bagher Ghalibaf, the parliament speaker who serves as the Director General of Iran's war-end talks, said on the 22nd (local time) on X (formerly Twitter), "A complete cease-fire is meaningful only when the maritime blockade and the act of holding the global economy hostage are stopped." Ghalibaf said, "The warmongering behavior of the Zionists (Israel) on all fronts must stop," adding, "With blatant cease-fire violations continuing, it is impossible to reopen the Strait of Hormuz."
The same day, the White House denied a report that it would extend the cease-fire with Iran by three to five days. Earlier, President Donald Trump said he would extend the cease-fire until the talks reached a conclusion either way after receiving a unified proposal from the Iranian government. In response, online outlet Axios reported that President Trump would extend the cease-fire by three to five days.
Regarding this, White House Spokesperson Karoline Leavitt told reporters, "The president has not set a firm deadline to receive Iran's proposal." She added, "There is clearly a lot of division inside (Iran). This is a fight between pragmatists and hard-liners in Iran right now." Leavitt said, "The president wants a single, unified response."