Expectations for Middle East Talks Resume... KRW-USD Exchange Rate Opens in the 1,470-Won Range (Update)

Opened at 1,478.8 Won
Down by 10.5 Won

As expectations for the resumption of peace talks between the United States and Iran grew, the KRW-USD exchange rate fell by more than 10 won in a single day, opening lower.

On the 14th, with expectations for the resumption of negotiations between the United States and Iran, the domestic stock market started more than 2% higher. At the dealing room of Hana Bank headquarters in Jung-gu, Seoul, an employee is monitoring the stock market and exchange rates. On this day, the KOSPI opened at 5,960.00, up 151.38 points (2.61%) from the previous trading day, while the KOSDAQ opened at 1,120.61, up 20.77 points (1.89%). April 14, 2026. Photo by Cho Yongjun

On April 14 in the Seoul foreign exchange market, the KRW-USD exchange rate opened at 1,478.8 won, down 10.5 won from the previous session, and remained in the upper 1,470-won range in early trading.

This is attributed to a slight easing of risk aversion, as news emerged that back-channel negotiations between the two sides were ongoing, despite the first round of peace talks breaking down over the weekend and the United States declaring a counter-blockade of the Strait of Hormuz. U.S. President Donald Trump stated on April 13 (local time) that after the breakdown of talks, Iran reached out first, saying, "They are eager for negotiations."

Amid growing expectations for the resumption of talks, the dollar index (DXY), which measures the value of the U.S. dollar against six major currencies, stood at 98.34 as of 9:30 a.m., down from 98.37 the previous day.

International oil prices, which had surged above 100 dollars per barrel following the U.S. counter-blockade of the Strait of Hormuz, also saw their gains narrow. On the New York Mercantile Exchange, May delivery West Texas Intermediate (WTI) crude oil futures closed at 99.08 dollars per barrel, up 2.51 dollars (2.6%).

Mingyungwon, a researcher at Woori Bank, said, "The recovery of risk appetite triggered by optimism over U.S.-Iran ceasefire negotiations and the weakness of the dollar may push the KRW-USD exchange rate below 1,480 won today," adding, "The optimistic interpretation that the blockade of the Strait of Hormuz is part of President Trump's negotiation pressure strategy is also helping to restore market sentiment."

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