Latest news with #won
Bloomberg
29-06-2025
- Business
- Bloomberg
Won Liquidity Rises as Longer Market Hours Woo Global Traders
South Korea's efforts to globalize its currency are gaining traction, with won trading expanding a year after the nation extended onshore market hours. The average daily volume of dollar-won trading during the lengthened hours — from 3:30 p.m. to 2:00 a.m. Seoul time — climbed to $4.1 billion in the first 20 days of June, according to data compiled by Bloomberg. That's up from about $2 billion in July 2024, when the new session was introduced.
Bloomberg
29-06-2025
- Business
- Bloomberg
South Korea Ends 14-Year Restriction on Kimchi Bond Investment
South Korea is scrapping a 14-year-old ban on local institutions investing in so-called Kimchi bonds sold for domestic use, in a move aimed at improving foreign exchange liquidity and easing pressure on the won. The Bank of Korea said it will fully lift restrictions on domestically issued, foreign currency-denominated debt, known as Kimchi bonds starting Monday. The change will allow financial institutions involved in FX-related businesses to purchase such instruments freely.
Bloomberg
10-06-2025
- Business
- Bloomberg
Korea's Pension Fund Stops Selling Dollars After Won Rebound
South Korea's National Pension Service has ended a five-month strategy of selling dollars in a bid to support the won, according to people familiar with the matter. The halt came after the won appreciated sharply in recent weeks to its strongest against the dollar since October, triggering an internal formula to stop sales of the greenback, said the people, who asked not to be named because they weren't authorized to speak publicly on the transactions.
Bloomberg
07-05-2025
- Business
- Bloomberg
Korean Won Climbs After Holiday, Catching Up With Asian Peers
The South Korean won rose on Wednesday as it caught up with gains in regional currency peers after the local market was shut for a holiday earlier this week. The won strengthened 1.3% to 1,383.00 against the dollar, the highest since November 2024, in early trading. The advances are in line with moves seen in Asian peers this week as traders dumped dollars amid hopes of a thaw in global trade tensions. Improving risk sentiment after US and China agreed to meet for trade talks helped gains.
