# South Korean won tumbles after Fed hike despite official warnings - Markets - Business Recorder

> The South Korean won closed down 1.1% at 1,409.7 per dollar on Thursday, its weakest close since March 2009. Authorities vowed measures to ease pressure, and local media reported a possible central bank and pension fund currency swap.

- Date: 2022-09-22 · published 2022-09-22T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/39823-south-korean-won-tumbles-after-fed-hike-despite-official-warnings-markets
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency weakness in a major Asian feed importer raises local import costs and can slow purchases of US feed ingredients, while a stabilizing measure could ease that pressure.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-11-15 | [Dollar rebounds as Fed officials say hikes to continue; yen slumps - Markets - Business Recorder](https://feedsoft.ai/events/38941-dollar-rebounds-as-fed-officials-say-hikes-to-continue-yen-slumps-markets.md) | +1.0% | -1.3% |
| DXY | 2023-04-21 | [Asian FX set for weekly losses as Fed rate hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/36650-asian-fx-set-for-weekly-losses-as-fed-rate-hike-bets-weigh-markets-business.md) | +0.3% | +0.8% |
| DXY | 2018-02-27 | [South Korea: Stocks wobble, won slides on Fed rate hike worries - The Business Times](https://feedsoft.ai/events/66719-south-korea-stocks-wobble-won-slides-on-fed-rate-hike-worries-the-business-times.md) | +0.1% | -0.1% |
| DXY | 2021-06-17 | [Yuan eases to 3-week low after Fed takes more hawkish outlook - Markets - Business Recorder](https://feedsoft.ai/events/7119-yuan-eases-to-3-week-low-after-fed-takes-more-hawkish-outlook-markets-business.md) | +1.1% | +1.7% |
| DXY | 2021-06-17 | [South Africa's rand hits one-month low on hawkish Fed, stocks fall - Markets - Business Recorder](https://feedsoft.ai/events/46878-south-africa-s-rand-hits-one-month-low-on-hawkish-fed-stocks-fall-markets.md) | +1.1% | +1.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40199002

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