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Shinhan Securities analyst notes the USD/KRW rate has risen toward 1,350 after trading near 1,300 since March, while the US Dollar Index fell from about 105 to 101. Korea's weak China reopening recovery, a widening rate gap and dividend-season remittances are cited as causes.
A weaker won increases the cost of imported feed grains and meal priced in dollars for Korean buyers. The widening gap between the won and the dollar index shows the currency is weakening for Korea-specific reasons.
businesskorea.co.krChanHee KimMay 12, 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.
