# On the 20th, the won-dollar exchange rate falls below 1140 won intraday for the first time in 1 year and 6 months - The Asia Business Daily

> The won-dollar rate fell below 1,140 intraday on October 20, 2020, for the first time since April 2019, trading at 1,139.75 per dollar in Seoul. The move followed continued strength in the Chinese yuan, which the People's Bank of China set at about 6.70 per dollar, a 1.5-year high.

- Date: 2020-10-20 · published 2020-10-20T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/50866-on-the-20th-the-won-dollar-exchange-rate-falls-below-1140-won-intraday-for-the
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The won and yuan strength reflects expectations of a Chinese recovery and firmer Asian demand, a modest supportive background for feed import demand. The direct impact on grain and meal prices is small.

## Read by commodity

- USDCNY: bearish ▼
- USDKRW: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-09-21 | [China's yuan inches up as post-Fed US dollar rally fades - The Business Times](https://feedsoft.ai/events/69189-china-s-yuan-inches-up-as-post-fed-us-dollar-rally-fades-the-business-times.md) | +1.1% | +0.6% |
| USDCNY | 2017-07-30 | [China's yuan firms on stronger fixing, set for the 3rd winning month - The Business Times](https://feedsoft.ai/events/70191-china-s-yuan-firms-on-stronger-fixing-set-for-the-3rd-winning-month-the.md) | -0.1% | -1.3% |
| USDCNY | 2024-08-30 | [Yuan hits strongest in more than a year as flows offset fundamentals - The Business Times](https://feedsoft.ai/events/29024-yuan-hits-strongest-in-more-than-a-year-as-flows-offset-fundamentals-the.md) | -0.1% | -1.2% |
| USDCNY | 2017-12-28 | [China's yuan rises on US dollar weakness, on track for best year since 2008 - Times of News](https://feedsoft.ai/events/67709-china-s-yuan-rises-on-us-dollar-weakness-on-track-for-best-year-since-2008.md) | -1.0% | -3.6% |
| USDCNY | 2026-10-12 | [Yuan holds near 3-1/2-year high against dollar as rate bets ease - Markets - Business Recorder](https://feedsoft.ai/events/17258-yuan-holds-near-3-1-2-year-high-against-dollar-as-rate-bets-ease-markets.md) | -0.2% | — |

## Sources

- asiae.co.kr: https://www.asiae.co.kr/en/article/2020102010295904990

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