Q2 Daily Average Forex Trading Volume $57.9 Billion... 5.1% Decrease from Previous Quarter

[Asia Economy Reporter Kim Eun-byeol] Foreign exchange transaction volume slightly decreased in the second quarter as demand for transactions such as securities investment declined.

According to the Bank of Korea on the 26th, the average daily foreign exchange transactions (spot exchange and foreign exchange derivatives transactions) of foreign exchange banks in the second quarter amounted to $57.85 billion.

This is a decrease of $3.09 billion (5.1%) compared to the first quarter of this year ($60.94 billion), which recorded the largest scale since the statistics revision in 2008.

The Bank of Korea estimated that the demand for spot exchange and foreign exchange derivatives transactions decreased due to reduced volatility in the exchange rate. According to the Bank of Korea, the fluctuation range of the won-dollar exchange rate decreased from 60.6 won in the first quarter to 31.8 won in the second quarter.

By product, spot exchange transactions ($22.88 billion) decreased by 6.8% ($1.66 billion) compared to the previous quarter, and foreign exchange derivatives transactions ($34.97 billion) decreased by 3.9% ($1.43 billion). Among foreign exchange banks, domestic banks' foreign exchange transactions ($25.50 billion) decreased by 7.6% ($2.10 billion), and foreign bank branches' foreign exchange transactions ($32.35 billion) decreased by 3.0% ($1.00 billion).

This content was produced with the assistance of AI translation services.