Seoul’s banks recorded an all‑time high in daily foreign‑exchange trading in the July‑September quarter, with a sharp rise in spot transactions driving figures up, the Bank of Korea (BOK) said on Monday.
The average daily FX turnover—including both spot and derivative trades—was $82.84 billion, up 0.8 percent from the second quarter. It marks the highest quarterly total since the BOK started compiling data under the current rules in 2008, and the third straight record launch.
Spot FX swung ahead, growing 6.4 percent on‑quarter to $34.86 billion. In contrast, derivative volumes slipped 2.9 percent to $47.98 billion as traders stopped chasing a quieter market. The Korean won‑U.S. dollar pair saw its volatility fall to 0.35 percent from 0.61 percent last quarter.
While the FX boom unfolded, Seoul’s shares climbed hard. The KOSPI lifted 2.26 percent, adding 89.25 points to close at 4,030.84. Investors had been packing profits during the six‑day winning streak that began on Oct. 15, but the market bounced back to end Friday on a positive note.
Across the pond, U.S. stocks also rose. The Dow Jones climbed 1.01 percent and the Nasdaq gained 1.15 percent as trade negotiators announced progress on a U.S.–China deal, which tackled export controls, fentanyl and shipping levies.
The combination of record FX activity, a buoyant stock market, and promising trade news paints a bullish picture for Seoul’s economy this quarter.
Source: ianslive
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