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The dollar-won rate has risen from 1,263 at the end of 2022 to over 1,340 per dollar, a depreciation of more than 5% this year. The commentary cites the Fed's rate hikes, the Bank of Korea holding its rate at 3.5%, and Korea's falling exports and weak trade balance as reasons.
Sustained won weakness raises the cost of imported feed ingredients for Korean buyers, and a weak trade balance can reinforce that pressure.
koreatimes.co.krApr 27, 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.
