▲ A financial data screen in the dealing room of Hana Bank in Seoul on June 12, 2026, shows the benchmark Korea Composite Stock Price Index having risen 7 percent from the previous session to an intraday high of 8,307.55 in early trading. Seoul stocks opened sharply higher as investors pinned hopes on a possible end to the Iran war after President Donald Trump said the U.S. has reached a "great settlement." (Yonhap)

Korean won-volatility

Korean won gains sharply against U.S. dollar on renewed hope on U.S.-Iran peace deal

SEOUL, June 12 (Yonhap) -- The South Korean won strengthened sharply against the U.S. dollar on Friday as U.S. President Donald Trump said a peace agreement with Iran could be signed as soon as this weekend.

The won opened at 1,518 won per dollar, up 10.9 won from the previous session, marking the highest opening price since June 2.

However, the local currency trimmed some gains and was quoted at 1,518.5 won per dollar as of 10:14 a.m.

Trump has said a peace deal with Iran is in "pretty final shape" and, if finalized, it would reopen the Strait of Hormuz, a key shipping route for oil, fertilizer and other commodities.

Earlier in the day, South Korean stocks opened sharply higher as investors bet on a possible settlement of the Iran war.

At one point in the morning trading, the benchmark Korea Composite Stock Price Index jumped 7.09 percent to 8,314.56 points.

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