The won-dollar exchange rate opened at 1,477.6 won on the 27th, down 6.9 won from the previous transaction day.
This is seen as being driven by growing expectations for a second end-of-war negotiation between the United States and Iran. If that happens, demand for risk assets tends to increase in the market, and the value of the won, which is not a key currency, tends to rise.
Over the weekend, U.S. President Donald Trump canceled the dispatch of his country's negotiating team, which had been set to depart for Pakistan to negotiate with Iran. On the 25th (local time), Trump told reporters about the reason for the cancellation, saying, "It's just that Iran brought documents that should have been better for us."
But the situation changed rapidly the next day. Trump said in a phone interview with Fox News that he would conduct negotiations with Iran by phone. He said, "I will do it by phone. So if they want, they can call us." He added, "I'm not going to have people (the U.S. negotiating delegation) travel for 18 hours."
Meanwhile, on the same day, Iran's Foreign Minister reportedly left Pakistan, the mediator of the end-of-war negotiations, and returned a day later. Iran's Tasnim News Agency reported, "Foreign Minister Abbas Araghchi, after paying a courtesy call on Haitham bin Tariq Al Said, the sultan of Oman, departed from Muscat (the capital of Oman) for Islamabad (the capital of Pakistan)." However, it did not explain the reason or background for Minister Araghchi's return to Islamabad. This has led to speculation that the second end-of-war negotiations between the United States and Iran will proceed.