Foreign banks set to boost onshore Korean won trading

Plans for longer trading hours and more open interbank FX market will stoke KRW hedging demand

Korean won

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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