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The Bank of Korea said the won depreciated 7.4% against the dollar from August 2022 to February 2023, more than double the average move of other major currencies. The central bank blamed a widening trade deficit by Korean corporations for the sharp fall.
Persistent won weakness raises the cost of imported feed inputs for Korean buyers, but this is a backward-looking analysis with no direct effect on global grain or meal prices.
businesskorea.co.krKim Eun-jinJun 9, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
