The USD/KRW exchange rate closed at 1,345.6 won at 3:30 p.m. on September 8, rising 5.1 won, or 0.38%, from the previous trading day and ending five consecutive sessions of declines. The rebound followed a jump in oil prices to a three-month high as U.S.-Iran military tensions intensified around the Strait of Hormuz, while importer settlement demand and news that the National Pension Service had suspended currency hedging supported the dollar. Semiconductor-company dollar sales and yen strength capped the won’s advance. The rate remained near 1,340 won for a second consecutive session. The Bank of Korea said stable exchange rates and recent won appreciation increased the likelihood that South Korea’s per-capita GNI will exceed $40,000 this year.