# Won-Dollar Exchange Rate Hits 1,200 Won Level for the First Time in 3 Months... Domestic Stock Market Rises Amid Short Selling Ban (Comprehensive) - The Asia Business Daily

> The won-dollar rate closed at 1,297.3, down 25.1 won in a single session, after US Treasury yields fell on expectations that the Fed would end rate hikes. The move followed weaker-than-expected October US jobs data. It was the third straight daily decline in the rate.

- Date: 2023-11-06 · published 2023-11-06T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/33421-won-dollar-exchange-rate-hits-1-200-won-level-for-the-first-time-in-3-months
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A sharp won rally makes dollar-priced feed imports cheaper for Korean buyers in the short term. The move was driven by US rate expectations, so it is tied to dollar direction.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2023110617101706392

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