# BOK: Among Major Currencies, Korean Won Depreciating Most Sharply - Businesskorea

> 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.

- Date: 2023-06-09 · published 2023-06-09T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/35730-bok-among-major-currencies-korean-won-depreciating-most-sharply-businesskorea
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

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.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- businesskorea.co.kr: https://www.businesskorea.co.kr/news/articleView.html?idxno=116239

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