emirates7 - Daily foreign exchange (FX) trading by banks in South Korea hit a record high in the second quarter, driven by increased foreign investment in local securities and heightened exchange rate fluctuations, according to central bank data released Tuesday.
The Bank of Korea (BOK) reported that average daily FX turnover, including derivatives, reached US$82.16 billion between April and June — a 12.9% rise from the previous quarter.
This marks the highest quarterly figure since the BOK began tracking such data under the current statistical standards in 2008, Yonhap News Agency reported.
FX derivatives trading averaged $49.39 billion per day during the second quarter, up 10.2% from the first quarter. Meanwhile, daily spot FX trading rose 17.3% to $32.77 billion, the data showed.
The Bank of Korea (BOK) reported that average daily FX turnover, including derivatives, reached US$82.16 billion between April and June — a 12.9% rise from the previous quarter.
This marks the highest quarterly figure since the BOK began tracking such data under the current statistical standards in 2008, Yonhap News Agency reported.
FX derivatives trading averaged $49.39 billion per day during the second quarter, up 10.2% from the first quarter. Meanwhile, daily spot FX trading rose 17.3% to $32.77 billion, the data showed.