# Won's steep descent caused by high commodity prices, reliance on China, foreigners' selloff | Yonhap News Agency

> The Bank of Korea reported that the won has depreciated against the dollar more steeply than other currencies, falling about 9% since early last year. The central bank cited soaring raw material prices, South Korea's reliance on China's economy, and foreign investors selling local stocks.

- Date: 2022-01-18 · published 2022-01-18T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/43370-won-s-steep-descent-caused-by-high-commodity-prices-reliance-on-china
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A weaker won raises the local cost of imported grains, soybeans and other feed inputs, which pressures Korean feed buyers' margins.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- en.yna.co.kr: https://en.yna.co.kr/view/AEN20220118004800320

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