Foreign banks set to boost onshore Korean won trading

- By Chris Davis
- 20 Feb 2023

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Dealers say South Korea’s plans to widen foreign exchange trading hours and allow offshore firms to participate in the local interbank FX market will attract Korean won hedging onshore and away from the predominant non-deliverable forwards (NDF) market.

International investors currently find it difficult to hedge FX risk for their Korean won assets onshore because the FX window closes at 3:30pm, the same time as Korea Exchange. Instead, many turn to offshore NDFs, which are settled in US

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