April 24, 2024

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[THE INVESTOR] The daily foreign exchange turnover by local and foreign banks in South Korea rose to a record high last year, central bank data showed on Feb. 22.

The daily forex turnover averaged US$50.64 billion in 2017, up 4.7 percent from a year ago, according to the data by the Bank of Korea.

It marked the highest figure since 2008, when the BOK started compiling the data.

The daily forex turnover grew last year on rising demand for foreign exchange derivatives amid tensions over North Korea’s nuclear and missile programs, BOK officials said.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)