SEOUL, April 21 (Yonhap) — The South Korean won strengthened against the U.S. dollar to a one-month high Tuesday amid hopes for another round of peace talks between the United States and Iran, along with strong foreign buying of local shares.
The won was quoted at 1,468.5 per dollar at 3:30 p.m., up 8.7 won from the previous session, extending gains for a second consecutive day.
It marked the strongest level since March 11, when the won closed at 1,466.5.
The gain came as U.S. President Donald Trump said Vice President JD Vance would travel to Islamabad for a second round of talks with Iran aimed at ending their conflict, though uncertainties remain high.
Washington and Tehran failed to reach an agreement in their first round of talks held earlier this month in Islamabad. A two-week ceasefire between the two sides is set to expire this week.
Falling global oil prices also supported the won, with Brent crude dipping about 1 percent to US$94.44 per barrel.
The won has shown heightened volatility in recent sessions, as the conflict, triggered by U.S.-Israeli strikes on Iran in late February, has pushed up global oil prices, fueling concerns over inflation and a potential economic slowdown.
Higher oil prices tend to weigh on the won by increasing demand for dollars for crude imports, as South Korea relies heavily on imports for energy.
Strong foreign buying of local shares also contributed to the won’s strength. The benchmark Korea Composite Stock Price Index surged 2.72 percent to a record high of 6,388.47.
The dollar index, which measures the U.S. currency against a basket of six major currencies, rose 0.04 percent to 98.14.
Officials work at a dealing room of Hana Bank in Seoul on April 21, 2026. (Yonhap)
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