SEOUL, Oct. 31 (Yonhap) -- The daily foreign exchange (FX) trading by banks in South Korea shrank 0.6 percent in the third quarter from three mont
SEOUL, Oct. 31 (Yonhap) — The daily foreign exchange (FX) trading by banks in South Korea shrank 0.6 percent in the third quarter from three months earlier amid lingering market volatility and a decline in foreign investment in the stock market, central bank data showed Sunday.
The daily FX turnover came to an average US$57.53 billion in the July-September period, down $320 million from the second quarter, according to the data from the Bank of Korea (BOK).
The average daily turnover of foreign exchange spots reached $22.34 billion during the third quarter, down 2.4 percent from three months earlier.
The daily average FX derivatives grew 0.6 percent over the same period to $35.19 billion.
By bank, the daily turnover by local lenders declined 2 percent on-quarter to $24.99 billion, while transactions by local branches of foreign banks grew 0.6 percent to $32.54 billion, the BOK said.
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