BusinessSouth Korea’s foreign currency trading falls in Q3

South Korea’s foreign currency trading falls in Q3

SEOUL- South Korea’s overseas alternate buying and selling fell within the third quarter owing to decrease demand for some foreign exchange, South Korea’s central financial institution information confirmed Friday. The every day common transaction of foreign exchange and overseas foreign money derivatives within the native inter-bank market got here to 30.9 billion U.S. {dollars} within the July-September quarter, down 4.03 billion {dollars} from the earlier quarter, in keeping with the Financial institution of Korea (BOK). It was brought on by weaker demand for some foreign exchange. Demand for FX swaps dipped 0.89 billion {dollars} to 14.26 billion {dollars} within the third quarter. Overseas capital value 1.33 billion {dollars} flowed out of the South Korean inventory market in September, whereas the native bond market posted a web overseas fund outflow of 100 million {dollars}. The every day common volatility within the gained/greenback alternate price slipped to 0.26 p.c in September from 0.41 p.c within the earlier month.

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