# South Korea foreign-exchange reserves fall for second month in September on market intervention

> South Korea's foreign exchange reserves fell for a second month in September to $414.12 billion, down $4.18 billion. Authorities intervened in the currency market to counter won weakness, which fell 2.04% against the dollar in September. The US dollar index rose 2.46% over the same month.

- Date: 2023-10-05 · published 2023-10-05T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/33875-south-korea-foreign-exchange-reserves-fall-for-second-month-in-september-on
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency intervention to defend the won signals persistent pressure on Korean import costs, and a rising dollar index tends to weigh on dollar-priced commodity values.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-22 | [Ringgit Weekly Outlook - 22 September 2023 - Kenanga Foreign Exchange](https://feedsoft.ai/events/34368-ringgit-weekly-outlook-22-september-2023-kenanga-foreign-exchange.md) | +0.8% | +1.7% |
| DXY | 2022-09-26 | [Indonesia central bank remains in foreign-exchange market to prevent excessive rupiah fall, official says](https://feedsoft.ai/events/39901-indonesia-central-bank-remains-in-foreign-exchange-market-to-prevent-excessive.md) | +0.2% | +0.6% |
| DXY | 2024-11-18 | [Reasonable foreign exchange needed to stablise market: expert](https://feedsoft.ai/events/27698-reasonable-foreign-exchange-needed-to-stablise-market-expert.md) | +0.5% | +0.3% |
| DXY | 2019-09-21 | [Foreign exchange rate 22.9: Fed cuts interest rates, USD increases, should we sell for profit?](https://feedsoft.ai/events/57358-foreign-exchange-rate-22-9-fed-cuts-interest-rates-usd-increases-should-we-sell.md) | +0.5% | -1.0% |
| DXY | 2021-06-16 | [Foreign Exchange Market Impacted by the Fed's Optimistic Speech - Stocks and Securities \| Investments and Western Union Money Transfers Colombia](https://feedsoft.ai/events/46882-foreign-exchange-market-impacted-by-the-fed-s-optimistic-speech-stocks-and.md) | +1.4% | +1.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/skorea-fx-reserves-fall-second-month-sept-market-intervention-2023-10-05/

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