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THE INVESTOR

Finance

Forex turnover of banks up 12% in Q1

  • PUBLISHED :May 17, 2017 - 13:46
  • UPDATED :May 17, 2017 - 13:46
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[THE INVESTOR] The daily foreign exchange turnover by local and foreign banks in South Korea rose 11.9 percent in the first quarter, the central bank said on May 17.

The daily forex turnover averaged US$49.98 billion in the January to March period, compared to the previous quarter’s US$44.66 billion, according to the Bank of Korea.

The daily trading volume of forex spots reached US$19.41 billion in the first quarter, up 11.8 percent from the previous quarter.

By currency type, the daily dollar-won trading volume rose 7 percent to US$14.08 billion while the daily turnover for the won-yuan increased 17.1 percent to US$1.62 billion during the cited period.

By Alex Lee and newswires (alexlee@heraldcorp.com)
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