Yonhap News6/15/2026Business1 min readSouth Korea

South Korean Won Advances to Near Two-Week High on US-Iran Peace Deal Hopes

Quick Look

The South Korean won reached a near two-week high against the dollar on Monday, driven by optimism over a preliminary peace deal between the US and Iran.
The won's strength coincided with foreign investors becoming net buyers of local stocks, boosting the KOSPI index.

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Why It Matters

The South Korean won reached a near two-week high as the United States and Iran agreed on a preliminary peace deal, easing concerns over global economic disruption. The agreement raised expectations for the end of the Middle East conflict and the reopening of the Strait of Hormuz.

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SEOUL, June 15 (Yonhap) -- The South Korean won advanced to a nearly two-week high Monday after the United States and Iran agreed on a preliminary deal to end the monthslong conflict that has disrupted the global economy.

The won was quoted at 1,511.1 won per dollar, up 8.7 won from the previous session's close, as of 3:30 p.m., and reaching the highest level since June 1 in terms of onshore settlement.

The won opened at 1,511.4 won per dollar after U.S. President Donald Trump said Washington and Tehran have reached a peace deal.

The agreement made public via social media, raised expectations that the war in the Middle East is nearing its end and the Strait of Hormuz would soon be reopened to ships.

Although the stance from Israel remains unclear, global oil prices dropped on the announcement that was also confirmed by Tehran.

The won's strength also came after foreign investors turned to net buyers of local stocks for the first time in 25 trading sessions. Foreigners bought a net 982.4 billion (US$649 million) worth of local stocks.

Bolstered by optimism over the peace deal between the U.S. and Iran, the benchmark Korea Composite Stock Price Index (KOSPI) jumped 5.2 percent to end the day at 8,545.98.