SEOUL, 21st January, 2025 (WAM) -- Daily foreign exchange (FX) trading by banks in the Republic of Korea reached an all-time high in 2024 on increased demand from cross-border trading and transactions of currency-related derivatives amid heightened market volatility, central bank data showed Tuesday.
The daily FX turnover, including trading of derivatives, came to an average of US$68.96 billion last year, up 4.6 percent from $65.96 billion a year earlier, according to the data from the Bank of Korea (BOK).
According to Yonhap News Agency, it marked the largest figure since the central bank began compiling relevant data under the current statistic standards in 2008.
The growth was attributable to the rising currency exchange demand for exports and imports, as well as the growth in foreigners' domestic stock trading and local investors' investment in overseas securities.