S.Korea's foreign exchange trading rises in 2022

0 Comment(s)Print E-mail Xinhua, January 12, 2023
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SEOUL, Jan. 12 (Xinhua) -- South Korea's foreign exchange trading rose last year due to higher demand for the U.S. dollar and foreign currency derivatives, central bank data showed Thursday.

The daily average transaction of foreign currencies and foreign currency derivatives in the local inter-bank market came to 29.49 billion U.S. dollars in 2022, up from 26.87 billion dollars in the previous year, according to the Bank of Korea (BOK).

It was attributable to higher demand for the U.S. currency, of which the daily average trading increased from 8.54 billion dollars in 2021 to 9.01 billion dollars in 2022.

Demand for foreign exchange swaps grew from 13.3 billion dollars to 15.13 billion dollars in the cited period.

Foreign capital worth 6.09 billion dollars flowed out of the South Korean stock market last year, but the domestic bond market posted a net foreign fund inflow of 11.72 billion dollars.

Premium on credit default swap, which measures credit risk for the five-year government bonds, averaged 42 basis points in 2022, up from 20 basis points in the prior year. Enditem

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