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S. Korea's forex trading grows in May

SEOUL
2023-06-12 14:08

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SEOUL, June 12 (Xinhua) -- South Korea's foreign exchange trading grew last month on higher demand for the U.S. and Chinese currencies, central bank data showed on Monday.

The daily average transaction of foreign currencies and foreign currency derivatives in the local inter-bank market came to 35.19 billion U.S. dollars in May, up 0.73 billion dollars from the previous month, according to the Bank of Korea (BOK).

It was caused by stronger demand for the U.S. and Chinese currencies, of which the daily average trading increased 1.08 billion dollars and 0.4 billion dollars, respectively.

Demand for foreign exchange swaps declined to 14.89 billion dollars in May from 15.74 billion dollars in the prior month.

Foreign capital worth 2.48 billion dollars flowed into the South Korean stock market in May, while the local bond market posted a net foreign fund inflow of 8.96 billion dollars.

The daily average volatility in the won/dollar exchange rate went down to 0.32 percent in May from 0.45 percent in April.

Premium on credit default swap, which measures credit risk for the five-year government bonds, averaged 43 basis points in May, down from 45 basis points in the prior month.
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