Daily FX turnover hits new high in Q3: BOK
Daily foreign exchange (FX) trading by banks in Korea rose slightly to reach a new high in the third quarter on strong trade-related transactions, central bank data showed Friday. Average daily FX turnover, including derivatives trading, came to an average of $122.01 billion during the July-September period, up $570 million, or 0.5 percent, from the second quarter, according to the data from the…
Korea's central bank reported that foreign exchange (FX) trading by banks in the country hit a new high in the third quarter, reaching $122.01 billion on average daily, a 0.5 percent increase from the previous quarter. This marks the third consecutive quarter of record highs since the beginning of the year. However, the on-quarter increase in trading slowed down as strong exports were partially offset by a decrease in offshore investors' stock transactions due to a market correction.
The combined value of exports and imports reached $173.9 billion in the third quarter, up from $154.7 billion a quarter prior. Meanwhile, foreign investors conducted $1,154 trillion won worth of stock trading each month in July and August, a decline from the $1,285 trillion won average in the second quarter. The average daily spot FX turnover decreased by 6.2 percent on-quarter.
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- Daily FX turnover hits new high in Q3: BOK en.yna.co.kr
- Daily FX turnover hits new high in Q3: BOK koreatimes.co.kr
