USD-KRW NDF 1-Month Falls to 1,476.50 Won on Dollar Weakness, Trump Iran Comments

The USD-KRW 1-month Non-Deliverable Forward (NDF) contract closed at 1,476.50 won (MID) in the New York market on the 23rd, according to overseas brokers, marking a 2.90 won decline when adjusted for the recent 1-month swap point of -0.70 won against the Seoul spot market close of 1,480.10 won. The rate fell from an intraday high in the early 1,480s to the late 1,470s due to dollar weakness, euro strength, and expectations for a surprise in South Korea's Q2 GDP data. US President Donald Trump stated on the 22nd in Marietta, Georgia that Iran is not yet ready for negotiations but will be 'very soon', while claiming stock markets are rising and inflation is falling, as US-Iran military tensions persist alongside negotiation hopes that have prevented a broader risk-off move.

USD-KRW NDF 1-Month Contract Falls to 1,476.50 Won in New York Market

Overseas brokers reported that the USD-KRW 1-month NDF closed at 1,476.50 won (MID) on the 23rd. The bid price stood at 1,476.30 won and the ask price at 1,476.70 won. After accounting for the recent 1-month swap point of -0.70 won, the contract declined 2.90 won compared to the Seoul foreign exchange market's spot close of 1,480.10 won. The USD-KRW rate initially rose to the early 1,480s during the New York session before retreating to the late 1,470s. The decline was driven by dollar weakness, euro strength, and market expectations for a positive surprise in South Korea's second-quarter GDP figures.

Trump Comments on Iran Negotiations and US Economic Outlook

Donald Trump addressed Iran negotiations and the US economic situation during a speech in Marietta, Georgia on the 22nd. Trump stated, "They are not ready yet. They will be ready very soon," referring to Iran's readiness for talks. He also remarked, "The stock market is rising significantly, while inflation is falling significantly," adding, "We are lowering prices quickly." Military conflict between the US and Iran continues, but expectations for negotiations have coexisted with geopolitical caution, preventing a broader expansion of risk-off sentiment in markets.

Cross-Currency Rates at Market Close

At the close of trading, the USD-JPY exchange rate stood at 163.15 yen. The EUR-USD rate reached 1.1412 dollars. The USD-CNH (offshore yuan) rate was recorded at 6.7753 yuan.

FAQ

What was the closing price of the USD-KRW 1-month NDF in the New York market on the 23rd?

The USD-KRW 1-month NDF closed at 1,476.50 won (MID) in the New York market on the 23rd, with a bid price of 1,476.30 won and an ask price of 1,476.70 won, according to overseas brokers.

What did Trump say about Iran negotiations on the 22nd?

During a speech in Marietta, Georgia on the 22nd, Trump stated that Iran is not yet ready for negotiations but will be ready "very soon," and claimed that the stock market is rising while inflation is falling significantly.