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On the 13th, the exchange rate for Korean won to U.S. dollar started at 1,495.4 won, an increase of 12.9 won compared to the previous trading day. With the failure of U.S.-Iran peace talks, leading the two countries back into a period of tension, the exchange rate started to show more volatility.

As per the Seoul foreign exchange market on that day, the won-to-dollar exchange rate climbed to the 1,497 Korean won range during the initial trading session, once more getting close to the 1,500 Korean won mark. On the 8th, following the U.S. and Iran’s agreement on a two-week truce, the exchange rate dropped to the 1,470 Korean won range and has remained around the 1,480 Korean won level. However, with the U.S. and Iran failing to reach a deal after two days of extended talks, the exchange rate has risen again.

U.S. President Donald Trump announced on the social media platform Truth Social, “The world’s most powerful U.S. Navy will immediately start blockade measures for all ships entering and leaving the Strait of Hormuz,” essentially indicating a blockade of the Iranian strait.

Iran’s Foreign Minister Abbas Araghchi stated on the social media platform X (X), “During the highest-level discussions in 47 years, Iran genuinely participated in talks aimed at ending the conflict but encountered (the U.S.’s) extreme stance, retreat, and embargo.”

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