UPDATE : 2019.8.23 FRI 17:42
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Banks' daily FX turnover down 0.1 pct in 2016

The daily foreign exchange turnover by local and foreign banks in South Korea dropped 0.1 percent in 2016 from a year earlier, the central bank said Monday.

The daily FX turnover averaged US$48.38 billion in 2016, down from $48.43 billion in 2015, according to the Bank of Korea (BOK). The daily trading volume of foreign exchange spots reached $19.43 billion in 2016, down 2.7 percent from a year earlier.

By currency type, the daily dollar-won trading volume came to $14.52 billion in 2016 while the daily turnover for the yuan-won stood at $2 billion during the cited period.

South Korea and China launched a direct exchange market for their currencies in December 2014.

The daily foreign exchange derivatives turnover averaged $28.95 billion in 2016, up 1.7 percent from a year earlier, according to the BOK. (Yonhap)

Jin Jae-yeon  edt@koreapost.com

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