# South Korea's won steadies as Yoon promises to help stabilise markets | Reuters

> The South Korean won has lost about 16% against the dollar so far this year as global investors moved into dollar assets amid sharp US rate rises. The Ukraine war also drove a flight to safety. The government, under President Yoon, pledged support for markets, and the won steadied.

- Date: 2022-10-07 · published 2022-10-07T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/39376-south-korea-s-won-steadies-as-yoon-promises-to-help-stabilise-markets-reuters
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Sustained currency weakness raises the cost of dollar-denominated feed imports for South Korea. The stabilization pledge limits near-term import cost increases.

## Read by commodity

- USDKRW: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/asia/south-koreas-yoon-vows-steps-stabilise-fx-market-2022-10-07/

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