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The won hit its weakest level in a year on Thursday, rising 10.4 to 1,185.4 per dollar in early trade, its largest one-day move since June. The drop was attributed first to Evergrande default concerns that emerged during the Chuseok closure, and then to dollar strength after the Federal Reserve policy meeting.
The rate later recovered slightly by the close.
Currency weakness raises the won cost of imported feed and grain for Korean buyers, while the firmer dollar is a modest headwind for dollar-priced commodities.
english.hani.co.krSep 24, 2021Not 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.
