# Exclusive: South Korea FX authorities aimed to cap dollar-won at 1,385, sources say

> Sources said Korean authorities, including the Bank of Korea and finance ministry, had prepared measures to intervene in the spot market if dollar-won breached 1,385 in late May. The sources asked for anonymity.

- Date: 2024-06-19 · published 2024-06-19T12:00:00.000Z
- Category: macro · region South Korea · magnitude medium
- Page: https://feedsoft.ai/events/30017-exclusive-south-korea-fx-authorities-aimed-to-cap-dollar-won-at-1-385-sources
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Intervention readiness signals limits on won depreciation, which bears on the cost of dollar-priced feed imports for Korean buyers.

## Read by commodity

- USDKRW: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/south-korea-fx-authorities-aimed-cap-dollar-won-1385-sources-say-2024-06-19/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.