FX turnover-Q2 tally

Daily FX turnover hits all-time quarterly high in Q2

SEOUL, July 26 (Yonhap) -- Daily foreign exchange (FX) trading by banks in South Korea hit an all-time quarterly high in the second quarter of the year on increased demand from cross-border securities transactions, central bank data showed Wednesday.

The daily FX turnover, including trading of derivatives, came to an average of US$69.37 billion in the April-June period, compared with $66.83 billion the previous quarter, according to the data from the Bank of Korea (BOK).

It marked the largest quarterly turnover since relevant data started to be compiled under the current revised statistical standards in 2008.

The growth stemmed from increased trading of securities by local and foreign investors.

The daily average turnover on the spot FX market reached $28.47 billion in the second quarter, up 7.6 percent from a quarter earlier. The figure for FX derivatives also expanded 1.3 percent to $40.9 billion, the data showed.

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