# Won crash continues as need for swap with U.S. downplayed

> The won fell more than 1% on Wednesday to 1,442.20 per dollar, its weakest since March 2009, as the global market rout continued. The central bank said no currency swap with the US was needed, while the bank and government signaled bond market intervention.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/39824-won-crash-continues-as-need-for-swap-with-u-s-downplayed
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A deepening won slide raises Korean import costs for feed and grain, potentially curbing demand for dollar-priced feed ingredients.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-05-31 | [Ringgit continues downtrend, centred on US-China trade woes](https://feedsoft.ai/events/59336-ringgit-continues-downtrend-centred-on-us-china-trade-woes.md) | -0.4% | -1.5% |
| DXY | 2024-10-15 | [US dollar continues uptrend as Fed policy provides lift](https://feedsoft.ai/events/28054-us-dollar-continues-uptrend-as-fed-policy-provides-lift.md) | +1.2% | +3.1% |
| DXY | 2018-06-21 | [Korean won continues to weaken against dollar - The Korea Times](https://feedsoft.ai/events/64742-korean-won-continues-to-weaken-against-dollar-the-korea-times.md) | +0.4% | +0.4% |
| DXY | 2020-09-24 | [SA Rand Follows Chinese Yuan, Euro Lower as U.S. Dollar Rebound Continues \| Investing.com ZA](https://feedsoft.ai/events/51396-sa-rand-follows-chinese-yuan-euro-lower-as-u-s-dollar-rebound-continues.md) | -0.3% | -1.8% |
| DXY | 2020-05-13 | [Dollar up as Powell downplays chances of negative U.S. interest rates \| Financial Post](https://feedsoft.ai/events/53332-dollar-up-as-powell-downplays-chances-of-negative-u-s-interest-rates-financial.md) | -0.4% | -3.7% |

## Sources

- koreajoongangdaily.com: https://www.koreajoongangdaily.com/business/won-crash-continues-as-need-for-swap-with-us-downplayed/10356424

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