On the 16th of October, the international price of oil exceeded $100 per barrel and continued to rise, contributing to negative predictions regarding the current account balance in South Korea. This, coupled with a persistent strength of the dollar against other currencies, caused the won-dollar exchange rate to briefly surpass the 1500 level, finally closing at 1497.5 after reaching a high of 1501.0 during the day. This occurrence marks the highest level for the won in the context of weekly trading since the global financial crisis in March 2009.

The geopolitical tensions related to the ongoing conflict between the U.S. and Iran have further contributed to the instability, as the dollar remains strong, impacting other currencies negatively, including the Japanese yen. The dollar index rose by 2.82% since late February, indicating robust performance of the dollar on the global stage. On the same day, the yen-dollar exchange rate approached 160 yen, showcasing a trend of weakening in major Asian currencies amidst these global pressures.

In the Korean stock market, the KOSPI reported a modest increase of 1.14% driven by gains in leading tech stocks such as Samsung Electronics and SK Hynix, while the KOSDAQ index fell by 1.27%. The mixed sentiment in the stock market reflects the broader economic uncertainties spurred by fluctuating oil prices and the strength of the dollar, signaling challenges ahead for domestic investments as foreign currency continues to exhibit volatility.