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Currency market volatility eases in June

Volatility in South Korea's currency markets eased in June from a month earlier as global financial markets were relatively stabilized, the central bank said Wednesday.

The session-over-session changes in the dollar-won exchange rates averaged 0.28 percent in June, compared with 0.41 percent a month earlier, the Bank of Korea said in a statement.

"The won has fallen against the dollar since June due to caution on shifts in monetary policies in major countries and geopolitical risks over North Korea's missile and nuclear programs," the statement said.

(Yonhap)
(Yonhap)

Tensions have spiked on the Korean Peninsula in recent years over North Korea's missile and nuclear programs.

Meanwhile, the Korean won posted 4.5 won in daily value changes against the US dollar in June, down from 5.5 won a month earlier, it said.

The won finished at 1,154.3 against the greenback July 7, compared with 1,144.1 won at the end of June, the BOK said.

Foreign investors poured a net $3.09 billion into the local financial markets -- $1.72 billion in stocks and $1.37 billion in bonds -- in June, the BOK said. It was down from foreign injections worth $5.27 billion a month earlier.

The credit default swaps premium for foreign exchange stabilization bonds came to 52 basis points in June, down from 57 basis points a month earlier, the BOK said. (Yonhap)
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