# South Korea suspected of selling US dollars to defend Won - Forex Crunch

> South Korean FX officials are suspected of selling US dollars in Asian trade to keep the won from falling past 1,195 per USD, a 15-month low. USD/KRW traded near 6.93 (the won quoted as KRW per USD in the source's terms), up 2.4% month-to-date.

- Date: 2019-05-30 · published 2019-05-30T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/59313-south-korea-suspected-of-selling-us-dollars-to-defend-won-forex-crunch
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Intervention to support the won slightly eases pressure on Korean importers' costs for feed grains and meal, but it does not change the underlying trade-driven demand outlook.

## Read by commodity

- USDKRW: neutral

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/05/30/south-korea-suspected-of-selling-us-dollars-to-defend-won/

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