HomeNewsSouth Korea’s forex trading falls in Q3

South Korea’s forex trading falls in Q3

SEOUL- South Korea’s foreign exchange trading fell in the third quarter owing to lower demand for some foreign currencies, South Korea’s central bank data showed Friday. The daily average transaction of foreign currencies and foreign currency derivatives in the local inter-bank market came to 30.9 billion U.S. dollars in the July-September quarter, down 4.03 billion dollars from the previous quarter, according to the Bank of Korea (BOK). It was caused by weaker demand for some foreign currencies. Demand for FX swaps dipped 0.89 billion dollars to 14.26 billion dollars in the third quarter. Foreign capital worth 1.33 billion dollars flowed out of the South Korean stock market in September, while the local bond market posted a net foreign fund outflow of 100 million dollars. The daily average volatility in the won/dollar exchange rate slipped to 0.26 percent in September from 0.41 percent in the previous month.

Source: nation.com.pk

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