# (LEAD) S. Korea to stabilize FX market amid won's sharp weakness: minister | Yonhap News Agency

> South Korea's finance minister Hong Nam-ki said the government will take measures to stabilize the foreign exchange market if needed, after the won fell to 1,265.20 per dollar, its weakest level in over two years. The won's slide reflected expectations of aggressive Fed tightening, China's COVID lockdowns and the Ukraine war.

- Date: 2022-04-28 · published 2022-04-28T12:00:00.000Z
- Category: macro · region South Korea · magnitude medium
- Page: https://feedsoft.ai/events/42075-lead-s-korea-to-stabilize-fx-market-amid-won-s-sharp-weakness-minister-yonhap
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A weaker won raises the local-currency cost of dollar-priced feed imports such as corn, soybean meal and wheat, which pressures Korean feed buyers. Intervention could cap the move, but the currency trend still favours higher import costs.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- en.yna.co.kr: https://en.yna.co.kr/view/AEN20220428001051320

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