# Won Hovers Around Mid-1,340s Despite Oil Plunge, Weak Dollar

> The dollar-won rate rose to 1,346.00 won on the morning of November 3, up 11.70 won from the previous day, and briefly touched 1,347.20 won. Foreign buying of dollars for currency hedging alongside stock purchases pushed the won lower, even as the dollar weakened and international oil prices fell on the possibility of resumed US-Iran talks.

- Date: 2026-11-03 · published 2026-11-03T06:08:43.680Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/77073-won-hovers-around-mid-1-340s-despite-oil-plunge-weak-dollar
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A weaker won raises the local-currency cost of imported feed ingredients, which Korean buyers pay in dollars, even as lower crude prices ease energy and freight costs. The net effect is a modest upward pressure on feed import costs.

## Read by commodity

- WTI: bearish ▼
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-11-07 | [Canadian dollar weakens despite wider trade surplus - The Globe and Mail](https://feedsoft.ai/events/33410-canadian-dollar-weakens-despite-wider-trade-surplus-the-globe-and-mail.md) | -3.2% | -11.3% |
| WTI | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -2.6% | -61.0% |
| WTI | 2018-10-23 | [Canadian dollar shakes off plunge in oil as investors brace for BoC rate hike - The Globe and Mail](https://feedsoft.ai/events/62779-canadian-dollar-shakes-off-plunge-in-oil-as-investors-brace-for-boc-rate-hike.md) | -3.2% | -17.6% |
| WTI | 2026-08-28 | [Dollar Strength and Increased Middle East Oil Flows Weigh on Crude Prices](https://feedsoft.ai/events/18056-dollar-strength-and-increased-middle-east-oil-flows-weigh-on-crude-prices.md) | +9.2% | +13.1% |
| WTI | 2024-09-10 | [Oil settles near 3-year low on weak demand outlook \| Reuters](https://feedsoft.ai/events/10169-oil-settles-near-3-year-low-on-weak-demand-outlook-reuters.md) | +2.1% | +11.9% |

## Sources

- en.infomaxai.com: https://en.infomaxai.com/news/articleView.html?idxno=146567

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