The won-dollar exchange rate against the U.S. dollar opened at 1,512.4 won on the 17th. It rose 0.8 won from the previous transaction day.
There is an outlook that the won-dollar exchange rate will stay around 1,510 won on the day. As U.S.-Iran cease-fire talks have been concluded, international oil prices are falling and investor sentiment toward risk assets such as stocks is recovering. When demand for the dollar, a relatively safe asset, declines, the won-dollar exchange rate falls.
West Texas Intermediate (WTI) crude futures settled at $76.05 per barrel on the 16th (local time), down 5.8% from the previous transaction day. The August Brent crude futures also finished down 5.1% at $78.96 per barrel. It is the first time in three months since early March, right after the Middle East war, that Brent has hovered around $70.
Whether foreign investors will continue net buying of domestic stocks on the day is key. Foreign investors have net bought domestic stocks for three consecutive trading days. When foreigners exchange the dollars they hold into won to buy domestic stocks, the won appreciates and the won-dollar exchange rate can fall.