South Korea FX on the rise
According to Bank of Korea (BoK) statistics, spot FX trades were $9.59 billion during the period, up 35.5% from $7.09 billion the previous quarter. August volatility led to a record average daily volume of $10.72 billion, the first time the $10 billion level was breached.
Meanwhile, transactions in foreign currency swaps and derivatives stood at $7.84 billion and $4.77 billion, respectively, up 34.5% and 27.2% from Q2.
The volume of net forward selling by exporters was $17.6 billion during the
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