On the 13th, the won-dollar exchange rate surged by more than 10 won, reaching close to 1370 won. This was influenced by heightened geopolitical tensions in the Middle East due to Israel's airstrikes on Iran.
On this day, the weekly transaction closing price of the won-dollar exchange rate in the Seoul foreign exchange market (as of 3:30 p.m.) was recorded at 1,369.6 won, an increase of 10.9 won compared to the previous day.
The exchange rate started at 1,355.0 won, reflecting a decrease of 3.7 won due to expectations of a U.S. interest rate cut. However, shortly after the opening, news of the Iranian airstrikes was reported, leading to a shift upward, reaching 1,373.0 won at 1:36 p.m.
Israel launched preemptive strikes on dozens of nuclear sites in Iran early on the 13th (local time), plunging the Middle Eastern situation into turmoil. Reports indicate that Iran's military 'top two,' Mohammad Hosein Bagheri, Chief of Staff of the Iranian Armed Forces, and Hosein Salami, Commander of the Islamic Revolutionary Guard Corps (IRGC), along with key nuclear scientists involved in developing nuclear weapons, were killed in the attack.
Iran also mounted a counterattack using drones. Israeli military spokesperson Colonel Efi Defrin noted, 'Iran launched more than 100 combat drones (UAVs) toward Israeli territory,' adding, 'The Israeli military is conducting operations to intercept them.'
Choi Ye-chan, a researcher at Sangsangin Investment & Securities, said, 'Due to Korea's geopolitical characteristic as a divided country, the exchange rate has shown significant surges even in conflicts with low direct relevance, such as in the Middle East or the Russia-Ukraine war.' He emphasized the need to be cautious of potential upward volatility in exchange rates and oil prices in the short term.
The dollar index (DXY), which indicates the value of the dollar against six major currencies, recorded a drop of 0.07%, reaching 98.271 around the close of weekly transactions. The previous day, the dollar index finished trading at 97.84, marking the lowest level since March 3, 2022 (97.79), but experienced slight gains on the 13th.
As of 3:30 p.m., the won-yen exchange rate was 953.66 won per 100 yen, rising by 8.38 won from the previous day's price (945.28 won). The dollar-yen exchange rate declined by 0.11% to 143.58 yen.