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South Korea FX volume hits record high

South Korea FX volume hits record high

(31 January 2019 – South Korea) The daily foreign exchange turnover by local and foreign banks in South Korea rose 9.6 percent year on year to a record high $55.51 billion in 2018.

The number marked the largest annual daily turnover since 2008 when the central bank started to compile the related data.

"The increase in spot exchange came as South Korea's exports were on a roll last year and foreigners expanded their investment in local bonds," the central bank said in a statement.

By currency type, the daily US dollar- Korean won spot trading volume jumped 10.4 percent YoY to $15.34 billion, whilst the daily turnover for the dollar-euro exchange increased 37 percent to $1.27 billion over the same period.

Conversely, daily transactions of the Chinese yuan-Korean won fell 10.6 percent YoY to $1.88 billion.

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