# Impact of China Evergrande and US FOMC... Exchange Rate Surpasses 1185 Won, Highest in About a Year (Comprehensive) - The Asia Business Daily

> The won-dollar rate rose more than 10 won from before the Chuseok holiday to above 1,185, its highest level in about a year. Concerns over Evergrande's possible default and a dollar rally around the FOMC meeting drove safe-haven demand. Offshore trading had reached 1,190 during the holiday.

- Date: 2021-09-23 · published 2021-09-23T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/45295-impact-of-china-evergrande-and-us-fomc-exchange-rate-surpasses-1185-won-highest
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A sharp won sell-off raises the local-currency cost of imported feed and grain for Korean buyers, and a firmer dollar tends to weigh on dollar-priced commodities.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2021092310102035578

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