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South Korea's central bank said it net sold $3.8 billion in the first half of 2019 to smooth volatility in the local currency market, up sharply from $187 million of net selling in the second half of 2018. The won closed June at 1,154.7 per dollar, down 35.7 won since the start of the year.
Won weakness and central bank dollar selling raise the cost of imported feed ingredients and grains priced in dollars for Korean buyers, while a weaker won can modestly support Korean import demand pressure only at the margin.
en.yna.co.krDuk-Kun ByunSep 30, 2019Not 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.
