# "Settling Around 1,200 Won?" Won-Dollar Exchange Rate Enters Stabilization Phase... Is the King Dollar Era Ending? - The Asia Business Daily

> The won-dollar exchange rate has been trading around the 1,300 level near year-end, after hitting a 2023 high of 1,363.5 in the third quarter. The won rose sharply after Fed Chair Powell hinted at rate cuts, and analysts expect continued downward pressure on the dollar into 2024 due to year-end dollar selling and US economic slowdown signs.

- Date: 2023-12-26 · published 2023-12-26T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/32963-settling-around-1-200-won-won-dollar-exchange-rate-enters-stabilization-phase
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar against the won tends to support Korean import purchasing power for feed ingredients priced in dollars, while a firmer dollar raises local feed costs.

## Read by commodity

- DXY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-07-11 | [Ahead of the Monetary Policy Committee Meeting, Won-Dollar Exchange Rate Enters 1,200-Won Range: Future Outlook - The Asia Business Daily](https://feedsoft.ai/events/35282-ahead-of-the-monetary-policy-committee-meeting-won-dollar-exchange-rate-enters.md) | -1.5% | +0.1% |
| DXY | 2024-08-27 | [Digesting the 'Jackson Hole Effect'... Won-Dollar Exchange Rate Hits 1,320 Level for the First Time in 5 Months - The Asia Business Daily](https://feedsoft.ai/events/29037-digesting-the-jackson-hole-effect-won-dollar-exchange-rate-hits-1-320-level-for.md) | +0.9% | -0.5% |
| DXY | 2024-05-16 | [Revived US September Rate Cut Expectations... Exchange Rate Opens at 1350 Won Level (Update) - The Asia Business Daily](https://feedsoft.ai/events/30501-revived-us-september-rate-cut-expectations-exchange-rate-opens-at-1350-won.md) | +0.2% | +2.2% |
| DXY | 2025-06-26 | [Is the era of a weak dollar coming... KRW-USD exchange rate falls to the 1,350 won range](https://feedsoft.ai/events/24449-is-the-era-of-a-weak-dollar-coming-krw-usd-exchange-rate-falls-to-the-1-350-won.md) | -0.9% | -0.6% |
| DXY | 2024-09-27 | [Lowest KRW-USD Exchange Rate in 6 Months... How Far Will It Fall? - The Asia Business Daily](https://feedsoft.ai/events/28546-lowest-krw-usd-exchange-rate-in-6-months-how-far-will-it-fall-the-asia-business.md) | +0.9% | +2.9% |

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2023122609360303817

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