# What's Gone Wrong With the Korean Won?

> The Korean won has lost about 7% against the dollar since the start of the year, after the Bank of Korea halted rate increases. The Federal Reserve has raised rates four times this year, leaving US rates about 2 percentage points above South Korean levels. That gap has put persistent pressure on the won.

- Date: 2023-10-23 · published 2023-10-23T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/33874-what-s-gone-wrong-with-the-korean-won
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A persistently weaker won raises the local cost of dollar-priced feed imports, and the widening rate gap sustains dollar strength that can weigh on commodity prices.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- wsj.com: https://www.wsj.com/livecoverage/stock-market-today-dow-jones-10-23-2023/card/what-s-gone-wrong-with-the-korean-won--vAFGPxzyuyYe4uKeXEx9

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