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Banks' daily FX turnover up in Q1

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(Globalpost/GlobalPost)

SEOUL, May 30 (Yonhap) -- South Korean lenders saw their foreign exchange turnover rise in the first quarter from the previous quarter as currency volatility grew on economic uncertainties, central bank data showed Friday.

The daily FX turnover averaged US$45.09 billion in the January-March period, compared with $42.3 billion three months earlier, according to the data by the Bank of Korea.

The central bank explained that concerns on China's growth and the Fed's tapering stoked currency volatility.

The daily trading volume of spots came to $17.96 billion last year, rising 13.4 percent from three months earlier, it added.

The daily foreign exchange turnover of forward deals jumped 15.8 percent on-quarter to $7.76 billion while that of FX swaps slipped 1.2 percent to $18.27 billion, according to the data.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/140529/banks-daily-fx-turnover-q1