# USD/KRW: Won off 1-week high as BOK holds rates for 7th time

> The won eased slightly against the dollar after the Bank of Korea held its base rate at 3.5% for a seventh straight meeting. The central bank said rates must stay higher for longer to curb persistent inflation, and it revised its 2024 growth forecast down to 2.1%. The won had gained about 4.2% against the dollar in November.

- Date: 2023-11-30 · published 2023-11-30T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/33419-usd-krw-won-off-1-week-high-as-bok-holds-rates-for-7th-time
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Higher-for-longer Korean rates support the won, which lowers the cost of imported feed. A hawkish hold with stronger inflation forecasts keeps domestic feed and food price pressure elevated.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- tradingpedia.com: https://www.tradingpedia.com/2023/11/30/usd-krw-won-off-1-week-high-as-bank-of-korea-holds-for-7th-time/

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