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Intraday won-dollar volatility narrows in Q2

All News 12:00 July 17, 2016

SEOUL, July 17 (Yonhap) -- The volatility in the won-dollar exchange rate continued to remain high in the second quarter, but the average gap between daily highs and lows narrowed from three months earlier, central bank data showed Sunday.

The average gap between the daily high and low of the won-dollar exchange rate came to 7.7 won in the three months ending June 30, compared with the average 8.2 won in the previous quarter, according to the data from the Bank of Korea (BOK).

The intra-day gap narrowed to an average 6 won in May, but shot up to 8.7 won in June, apparently due to heightened uncertainties in the global financial market following Britain's vote to exit the European Union.

The average daily variation, showing the change from the previous session's closing price, also climbed to 6.9 won in June. For the April-June period, the average daily variation came to 6.5 won, unchanged from the previous quarter, according to the BOK.

The average won-dollar exchange rate came to 1,163.3 won against the U.S. dollar, up 3.2 percent or 37.6 won from 1,200.9 won per dollar in the previous quarter.

Meanwhile, the daily foreign exchange trading volume among South Korean banks came to $23.23 billion in the second quarter, down from $24.72 billion in the previous quarter, the BOK said.


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