# Won surges over 2% after Bank of Korea signals rate hikes to continue - The Business Times

> The won jumped as much as 2% to 1,324.90 per dollar after the Bank of Korea raised its policy rate and signaled further tightening. The currency has gained almost 8% this quarter, the biggest rise among major Asian currencies. Gains followed Fed minutes that showed support for smaller US rate hikes.

- Date: 2022-11-24 · published 2022-11-24T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/38944-won-surges-over-2-after-bank-of-korea-signals-rate-hikes-to-continue-the
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A firmer won reduces the local cost of imported feed and energy inputs for Korean buyers. The move is driven by monetary policy and does not change global grain supply or demand.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/won-surges-over-2-after-bank-korea-signals-rate-hikes-continue

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