# South Korea sells dollars to curb won fall, traders say - Business & Finance - Business Recorder

> South Korea's foreign exchange authority was reportedly seen selling US dollars on March 7, 2022 to limit a fall in the won. The won had weakened as much as 1.1% to 1,227.6 per dollar, its lowest since June 2020. The authority said it was monitoring speculative offshore moves tied to the Ukraine crisis.

- Date: 2022-03-07 · published 2022-03-07T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/42503-south-korea-sells-dollars-to-curb-won-fall-traders-say-business-and-finance
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Intervention to defend the won signals strain on Korea's fuel-import-dependent economy, since a weaker won raises the local cost of dollar-priced energy and feed imports. Continued pressure would keep Korean import costs elevated.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40159063

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