US-Iran Talks Stalled... Won-Dollar Exchange Rate Opens Up 11.0 Won at 1,479.5 Won (Update)

The won-dollar exchange rate opened at 1,479.5 won on April 22, up 11 won from the previous session. This rebound, which came after three trading days, was triggered by growing risk aversion as negotiations between the United States and Iran faced difficulties.

U.S. President Donald Trump announced on April 21 (local time), just one day before the expiration of a two-week ceasefire, that the ceasefire would be extended due to internal political turmoil in Iran.

On his social networking service, Truth Social, President Trump stated, "I have received a request to suspend attacks on Iran until the Iranian leadership and negotiating team establish a unified proposal, given the Iranian government's expected severe divisions and at the request of Pakistan's Chief of Army Staff Asim Munir and Prime Minister Shehbaz Sharif." He added that he would maintain the ceasefire until Iran submits a responsible proposal and the negotiations are concluded.

In contrast, Iran rejected President Trump's announcement of a ceasefire extension. An aide to Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament, responded on X (formerly Twitter), saying, "Trump's ceasefire extension is clearly a ploy to buy time for a surprise attack."

News of the breakdown in negotiations between the two countries led to a rise in the U.S. dollar. The dollar index, which measures the value of the dollar against the currencies of six major countries, climbed to 98.564 overnight before edging down slightly to 98.330.

Oil prices also rose. June West Texas Intermediate (WTI) crude oil futures in New York trading briefly surpassed $90 per barrel and were trading in the $89 range. Brent crude futures ended trading up 3.14%, closing in the $98 per barrel range.

The yen-dollar exchange rate rose to 159.633 yen overnight before edging down slightly to 159.258 yen. The won-yen cross rate stood at 928.07 won per 100 yen, up 3.76 won from the previous day's 3:30 p.m. benchmark.

On the 20th, the KOSPI index opened at 6213.92, up 22 points from the previous trading day, displayed on the stock market board at the dealing room of Hana Bank headquarters in Jung-gu, Seoul. On the same day, the won-dollar exchange rate started trading at 1479.5 won, down 4 won compared to the previous trading day. April 20, 2026. Photo by Kang Jinhyung

This content was produced with the assistance of AI translation services.