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The Bank of Korea reported it net sold $5.85 billion in market stabilization operations in the first quarter of 2020 to ease won volatility from the coronavirus outbreak. The won weakened to 1,217.4 per dollar at end-March from 1,156.4 at end-2019.
The central bank said the fluctuation rate expanded sharply in the quarter.
Heavy won-defending dollar sales show Korean currency stress, which can affect the purchasing power of Korean feed importers buying dollar-priced grains and meal. Stabilization may limit near-term won moves but does not change underlying commodity supply.
en.yna.co.krDuk-Kun ByunJun 30, 2020Not 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.
