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S.Korea's foreign currency trading hits record high in 2021
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Top Stories |
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IANS | 26 Jan, 2022
South Korea's foreign currency trading hit a record high last year owing
to the expanded trade and increased investment in securities, central
bank data showed on Wednesday.
The daily average trading
of foreign currencies and foreign exchange derivatives, made by foreign
exchange banks, came in at $58.3 billion in 2021, up 10.3 per cent from
the previous year, according to the Bank of Korea (BOK).
It has
marked the highest since data began to be compiled in 2008. The record
transaction was attributed to the growth in export and import and the
increased investment in stocks and bonds by residents and foreigners,
Xinhua news agency reported.
The daily average transaction of
foreign currencies advanced 11.8 per cent over the year to 22.71 billion
dollars last year, while the trading for foreign exchange derivatives
rose 9.4 per cent to 35.59 billion dollars.
The trading by local
banks gained 4.9 per cent to $25.97 billion, and the transaction by
domestic branches of foreign banks picked up 15.2 per cent to $32.33.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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