# South Korea FX reserves log biggest monthly drop in 19 months on intervention

> South Korea's foreign exchange reserves posted their biggest monthly drop in 19 months, reflecting central bank intervention to defend the won. The won had hit 1,400 per dollar in mid-April, its weakest since November 2022.

- Date: 2024-05-06 · published 2024-05-06T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/30496-south-korea-fx-reserves-log-biggest-monthly-drop-in-19-months-on-intervention
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Currency intervention signals official resistance to won weakness, which affects the import cost of dollar-priced feed ingredients for Korean buyers.

## Read by commodity

- USDKRW: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/south-korea-fx-reserves-log-biggest-monthly-drop-19-months-intervention-2024-05-06/

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