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The Korean won hit a two-year low of 1,250.8 per dollar on April 26, down 0.9 won from the previous day, and has depreciated more than 9% from last year's average. The weakness reflects US monetary tightening, China's COVID lockdowns and a trade deficit driven by high oil prices.
Import prices in Korea rose 35% year on year in March, so continued won weakness raises the cost of imported feed and energy. Foreign outflows from Korean equities could also add pressure on the currency.
koreatimes.co.krApr 26, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
