# Won weakens against US dollar as Japan abolishes negative interest rate - The Korea Times

> The Bank of Japan raised its short-term policy rate to 0 to 0.1 percent from minus 0.1 percent, ending a negative rate policy that lasted eight years. The won fell 6.1 won to 1,339.8 per dollar as the yen weakened after the central bank hinted it would keep loose policy.

- Date: 2024-03-19 · published 2024-03-19T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/31455-won-weakens-against-us-dollar-as-japan-abolishes-negative-interest-rate-the
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Yen and won weakness raise the local cost of dollar-priced grain and meal imports for Asian feed buyers, and analysts expect the policy shift to have limited near-term market impact.

## Read by commodity

- USDJPY: bullish ▲
- USDKRW: bullish ▲

## Sources

- koreatimes.co.kr: https://www.koreatimes.co.kr/economy/20240319/won-weakens-against-us-dollar-as-japan-abolishes-negative-interest-rate

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