Won–dollar exchange rate briefly tops 1,500 overnight for first time since the Global Financial Crisis

Financial News – Volatility in financial markets following the resumption of joint airstrikes by the United States of America (U.S.) and Israel against the Islamic Republic of Iran pushed the won–dollar exchange rate above 1,500 won per dollar in overnight trading.
As of 2:00 a.m. on the 4th (Korea time), the won–dollar rate closed overnight trading at 1,485.7 won per dollar, up 19.6 won from the previous day’s daytime closing price on the Seoul Foreign Exchange Market.
The exchange rate climbed sharply during overnight trading and, at 12:05 a.m. on the 4th Korea time—about 30 minutes after the New York Stock Exchange (NYSE) opened—briefly broke above 1,500 won per dollar. It later spiked to nearly 1,506 won at one point before retreating below the 1,500 level and eventually finishing below 1,490 won.
The previous day’s daytime closing price on the Seoul Foreign Exchange Market, as of 3:30 p.m., was 1,466.1 won, up 26.4 won from the session before.
This is the first time the won–dollar exchange rate has exceeded 1,500 won since March 2009, during the Global Financial Crisis (GFC), roughly 17 years ago. At that time, the rate had climbed to just below 1,600 won per dollar.
News of the renewed airstrikes also hit U.S. stock index futures hard. As of 7:50 p.m. on the 3rd (Korea time), Dow Jones Industrial Average futures had plunged 1.71%, S&P 500 futures were down 1.81%, and Nasdaq futures had tumbled 2.38%.
International oil prices, by contrast, surged.
At the same time on the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude futures were trading at 75.89 dollars per barrel, up 6.61%, while Brent Crude Oil futures were at 82.57 dollars per barrel, up 6.33%.
sms@fnnews.com Seong Min-seo Reporter