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The Bank of Korea offered $8.72 billion to local banks in its first dollar lending auction under its $60 billion currency swap line with the US Federal Reserve. Bids undershot the central bank's targets, which it read as a easing of the local dollar crunch.
The won closed at 1,217.40 per dollar.
Dollar liquidity support eases pressure on the won and emerging-market currencies, which reduces the risk of forced foreign-currency selling. For feed buyers, a steadier won lowers the cost of imported feed inputs priced in dollars for Korean buyers.
koreaherald.comYonhapMar 31, 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.
