Daily FX turnover slips 2.3 pct in Q2: data

Daily foreign exchange trading by banks in South Korea fell 2.3 percent in the second quarter of the year on a fall in spot and derivatives transactions, central bank data showed Tuesday. The daily FX turnover, including trading of derivatives, came to an average of US$67.78 billion in the April-June period, compared with $69.4 billion the previous quarter, according to the data from the Bank of Korea (BOK). The decreased turnover stemmed from a dip in both spot and derivatives trading, the central bank said. The daily average turnover on the spot FX market reached $24.62 billion in the second quarter, down 5.7 percent from three months earlier. The figure for FX derivatives also fell 0.3 percent to $43.17 billion, the data showed. Source: Yonhap News Agency