# Won plummets as investors flock to safe-haven dollar

> The Korean won closed at 1,349.3 per dollar on September 27, 2023, its weakest close since August 2022, as investors bought the dollar as a safe haven. The dollar index hit a 10-month high of 106.21 the previous day.

- Date: 2023-09-27 · published 2023-09-27T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/34360-won-plummets-as-investors-flock-to-safe-haven-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A stronger dollar and weaker won raise the cost of dollar-priced feed imports for Korea and can dent its import demand, while a firmer dollar generally weighs on dollar-denominated grain and oilseed prices.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-01-24 | [Dollar dips vs yen as investors reach for safe havens on virus scare](https://feedsoft.ai/events/55319-dollar-dips-vs-yen-as-investors-reach-for-safe-havens-on-virus-scare.md) | +0.2% | +1.3% |
| DXY | 2022-09-22 | [Loonie slides after Fed rate hike as investors retreat to safe haven of U.S. dollar \| Advisor.ca](https://feedsoft.ai/events/39818-loonie-slides-after-fed-rate-hike-as-investors-retreat-to-safe-haven-of-u-s.md) | +1.9% | +1.8% |
| DXY | 2022-06-30 | [Euro under pressure as inflation fears send investors to dollar haven - Markets - Business Recorder](https://feedsoft.ai/events/41161-euro-under-pressure-as-inflation-fears-send-investors-to-dollar-haven-markets.md) | +1.5% | +1.0% |
| DXY | 2020-09-09 | [Dollar and yen rise as tech selloff sends investors to safety \| Financial Post](https://feedsoft.ai/events/51342-dollar-and-yen-rise-as-tech-selloff-sends-investors-to-safety-financial-post.md) | -0.7% | -0.2% |
| DXY | 2026-06-01 | [Investors expect US dollar to break higher as Fed battles inflation](https://feedsoft.ai/events/19465-investors-expect-us-dollar-to-break-higher-as-fed-battles-inflation.md) | +1.0% | +1.7% |

## Sources

- koreajoongangdaily.com: https://www.koreajoongangdaily.com/business/won-plummets-as-investors-flock-to-safe-haven-dollar/12101352

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