S. Korea's FX trading jumps, stands at 15th largest in world: survey

SEOUL, Nov. 1 (Yonhap) -- South Korea's daily foreign exchange trading jumped 22.5 percent over the past three years, with its amount representing the world's 15th largest, a report showed Tuesday.

According to the report compiled by the Bank for International Settlements (BIS) and released by the Bank of Korea, South Korea's daily trading of foreign exchange-related products came to US$67.74 billion as of April this year, compared with $55.32 billion tallied in the same month in 2019.

The trading includes currency swaps and products changing hands on spot and futures markets.

South Korea accounted for 0.7 percent of global trading, which represented the 15th largest among 52 countries and regions whose trading data has been tracked, the report showed.

The ratio and ranking were the same as what was tallied in a previous survey.

Britain topped the list by making up 38.1 percent of the total, followed by the United States, Singapore, Hong Kong and Japan with 19.4 percent, 9.4 percent, 7.1 percent and 4.4 percent, respectively, the report showed.

The U.S. dollar was the most used currency in FX trading, accounting for 88.5 percent out of a total 200 percent, reflecting both selling and buying.

The euro came next with 30.5 percent, trailed by Japan's yen, Britain's pound and China's yuan with 16.7 percent, 12.9 percent and 7 percent, respectively. The Korean won ranked 12th with 1.9 percent, the report showed.

kokobj@yna.co.kr
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