S. Korean currency rises sharply on Middle East ceasefire agreement | Yonhap News Agency

## Summary
OK SEOUL, April 8 (Yonhap) -- The South Korean won strengthened sharply against the U.S. dollar Wednesday, as the United States and Iran agreed upon a two-week ceasefire in their monthlong conflict. Tehran agreed to the reopening of the crucial waterway, provided that attacks against Iran are halted, according to foreign media reports. "Easing tensions in the Middle East have calmed risk-off sentiment," Lee Yoo-jung, an analyst at Hana Bank, said. "Global oil prices have plunged, while the dollar has also weakened significantly on the news." The dollar index, which measures the U.S. dollar against a basket of six major currencies, fell below the 99 level. The conflict, which began in late February following U.S.-Israeli strikes on Iran, has escalated into a broader regional confrontation, rattling global markets and driving up oil prices, as the Strait of Hormuz has effectively been shut. Officials work at a dealing room of Hana Bank in Seoul on April 8, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles (2nd LD) Trump agrees to 2-week ceasefire with Iran, 'subject to' Hormuz Strait reopening (LEAD) Seoul shares open sharply higher on 2-week ceasefire in U.S.-Iran war Keywords #Korean currency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message (2nd LD) Trump claims Iran's president has asked for ceasefire; Iran denies it Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (3rd LD) Lee says S.

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SEOUL, April 8 (Yonhap) -- The South Korean won strengthened sharply against the U.S. dollar Wednesday, as the United States and Iran agreed upon a two-week ceasefire in their monthlong conflict.
The won opened at 1,479.9 per dollar, up 24.3 won from the previous session.
The gain came after U.S. President Donald Trump said Tuesday (U.S. time) that he had agreed to refrain from attacking Iran for two weeks on condition that Iran reopens the Strait of Hormuz.
Tehran agreed to the reopening of the crucial waterway, provided that attacks against Iran are halted, according to foreign media reports.
"Easing tensions in the Middle East have calmed risk-off sentiment," Lee Yoo-jung, an analyst at Hana Bank, said. "Global oil prices have plunged, while the dollar has also weakened significantly on the news."
The dollar index, which measures the U.S. dollar against a basket of six major currencies, fell below the 99 level.
Global oil prices tumbled, with Brent crude dropping nearly 15 percent to US$93.48.
The conflict, which began in late February following U.S.-Israeli strikes on Iran, has escalated into a broader regional confrontation, rattling global markets and driving up oil prices, as the Strait of Hormuz has effectively been shut.
Officials work at a dealing room of Hana Bank in Seoul on April 8, 2026. (Yonhap)
graceoh@yna.co.kr
(END)
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S. Korean currency rises sharply on Middle East ceasefire agreement

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- Tehran agreed to the reopening of the crucial waterway, provided that attacks against Iran are halted, according to foreign media reports. "Easing tensions in the Middle East have calmed risk-off sentiment," Lee Yoo-jung, an analyst at Hana Bank, said. "Global oil prices have plunged, while the dollar has also weakened significantly on the news." The dollar index, which measures the U.S. dollar against a basket of six major currencies, fell below the 99 level.
- Officials work at a dealing room of Hana Bank in Seoul on April 8, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles (2nd LD) Trump agrees to 2-week ceasefire with Iran, 'subject to' Hormuz Strait reopening (LEAD) Seoul shares open sharply higher on 2-week ceasefire in U.S.-Iran war Keywords #Korean currency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message (2nd LD) Trump claims Iran's president has asked for ceasefire; Iran denies it Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (3rd LD) Lee says S.

### Implications
- Officials work at a dealing room of Hana Bank in Seoul on April 8, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles (2nd LD) Trump agrees to 2-week ceasefire with Iran, 'subject to' Hormuz Strait reopening (LEAD) Seoul shares open sharply higher on 2-week ceasefire in U.S.-Iran war Keywords #Korean currency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message (2nd LD) Trump claims Iran's president has asked for ceasefire; Iran denies it Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (3rd LD) Lee says S.
- Korea mulling transfer of 1 KF-21 prototype to Indonesia (LEAD) Top presidential aide to visit Kazakhstan, Oman, Saudi Arabia to discuss securing crude oil, naphtha (LEA) N.
- Korea launched projectile Tuesday: JCS (LEAD) Kim Yo-jong says N.

### Expert Commentary
This article covers iran, korean, korea topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 509.