[THE INVESTOR] The daily foreign exchange turnover by local and foreign banks in South Korea fell 6.7 percent in the second quarter from a quarter earlier due to a decreased volatility in the foreign-exchange market, the central bank said on Aug.5.

The daily FX turnover averaged US$49.44 billion, compared to the previous quarter’s 52.99 billion, which was a record-high. 




The daily trading volume of foreign exchange spots reached U$19.94 billion in the April to June period, down 6.6 percent from the previous quarter.

The daily won-dollar trading volume dropped 9 percent to US$14.61 billion while the daily turnover for the won-yuan dipped 2.3 percent to US$2.23 billion.

South Korea and China had launched a direct exchange market for their currencies in December 2014. 

(theinvestor@heraldcorp.com)