It aims to provide better guidance to its customers by providing relevant information on the price and currency, the company said. It added that it will help investors to determine the “right timing” to purchase bonds at the market price.
The brokerage house seeks to lower barriers for Korean investors, who tend to experience more difficulties purchasing the bonds compared with local bonds, because the transactions are more complex. The company also lowered the bond-trading unit to $10,000, saying this is the lowest price in the industry.
In December, the US Fed raised its interest rates for the fourth time in 2018 to a range of 2.25 percent to 2.5 percent. The Bank of Korea raised its policy rate to 1.75 percent in November, but the US rate has remained higher for months.
Korea’s foreign exchange reserves rose to a record high in December on a weakening US dollar, according to the BOK. The total value of foreign currency holdings came to $403.69 billion as of end-December, up $710 million from a month earlier, breaking the earlier high of $403 billion tallied in September.
By Jung Min-kyung (email@example.com)