S Korea’s foreign currency trading grows in Q1

26 April, 2019 12:00 AM printer

SEOUL: South Korea's foreign currency trading grew in the first quarter, marking the biggest in three quarters, central bank data showed Thursday.

The daily foreign currency trading in the inter-bank market averaged 54.96 billion U.S. dollars in the January-March quarter, up 2.19 billion dollars from the previous quarter, according to the Bank of Korea (BOK), reports Xinhua.

It was the biggest since the second quarter of last year on strong demand for foreign currency derivatives to hedge currency risks. Transaction of foreign currency derivatives, including FX swap, amounted to a daily average of 35 billion dollars in the first quarter, up 1.62 billion dollars from the previous quarter.