Bank of Korea revealed important data covering the FX trading activity in the country, of the second quarter of 2022. The report reveals that the daily turnover reached $65.59 billion in the period between April and June. This is 0,1 percent up from the last quarter. The institution said that this is the highest number of turnover activity since 2008. The Bank of Korea (BOK) noted that these daily turnover activities include derivatives.
The Bank further revealed that the average FX spot turnover reached $25.05 billion, a sum that is up by 0.4% since the first quarter if this year. However, despite the general increase in FX trading, the daily average FX transactions is down by 0.1 percent, currently standing $40.54 billion.
South Korea is one of the biggest and fastest developing economies today, with a GDP of some $1.6 trillion. One of the decisive factors of this economic boom is the spike in exports during the past 10 years. Another reason in this GDP spike is the increased FX trading activity that has swept the nation and the world. This is despite the growing economic hardships that has plagued the world.
But one must also consider the rise in FX and investment scams that creates issues around the world of FX investments. But despite this, FX trading levels are stable.