South Korea daily FX turnover hit all-time high in Q1

Increased demand for cross-border transactions of securities drove the growth.

Daily foreign exchange trading by banks in South Korea reached a record quarterly high in Q1 2023, reports Yonhap News Agency, based on data from the Bank of Korea (BOK).

Daily FX turnover averaged US$66.83b in the January to March period. In Q1 2022, the average turnover was $57.44b.

Increased demand from cross-border transactions of securities drove the growth.

ALSO READ: Korean banks’ in solid position to weather strong US dollar

It marked the largest quarterly turnover since relevant data started to be compiled under the current revised statistical standards in 2008, according to Yonhap.

Growth stemmed from increased trading of securities by local and foreign investors.

Follow the link for more news on

foreign exchange

Also Read

India, Maldives ink deal to promote local currencies for cross-border trade

Malaysia fines money changer for customer due diligence lapses

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit