▲ A customer exchanges currency at Incheon International Airport, west of Seoul, on April 1, 2026. (Yonhap)

Korean currency-volatility

S. Korean currency falls ahead of Trump's address on Iran war

SEOUL, April 2 (Yonhap) -- The South Korean won weakened against the U.S. dollar Thursday, following a sharp gain in the previous session, ahead of U.S. President Donald Trump's scheduled message on the ongoing conflict in the Middle East.

The won opened at 1,512.2 per dollar, down 10.9 won from the previous session's close.

The currency has shown heightened volatility in recent sessions in line with developments in the Middle East, which have pushed up global oil prices and fueled concerns over inflation and a potential economic slowdown.

On Wednesday, the won surged nearly 30 won, rebounding from a 17-year low, amid expectations for an end to the war, which began in late February following U.S.-Israeli strikes on Iran.

Trump was scheduled to deliver a public address at 10 a.m. (Seoul time) on the Middle East conflict.

In an interview with Reuters on Wednesday (U.S. time), Trump said the United States would be "out of Iran pretty quickly" and could return for "spot hits" if necessary.

In a post on Truth Social, Trump also said Iran's "new regime president" had asked for a ceasefire, though Iran's foreign ministry dismissed the claim as "false and baseless."

Despite ongoing tensions between the U.S. and Iran, the dollar weakened broadly. The dollar index, which measures the U.S. currency against six major peers, fell to as low as 99.296 overnight.

After opening 1.33 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) rose 63.11 points, or 1.15 percent, to 5,541.81 in the first 15 minutes of trading Thursday.

"The foreign exchange and stock markets are likely to see increased volatility after Trump's address, as investors monitor the direction of oil prices and changes in U.S. futures markets," said Han Ji-young, an analyst from Kiwoom Securities.

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