South Korea Starts 24-Hour Trading of Dollar-Won
The longer window is expected to reduce opening-hour shocks and attract foreign investors, while the won stays above 1,500 per dollar for 34 days.
- On Monday, Seoul launched 24-hour won-dollar trading, marking a major milestone in South Korea's push to open financial markets to global investors and improve accessibility.
- Authorities designed the extended schedule to provide trading convenience comparable to advanced markets, aiming to bolster South Korea's case for an MSCI Inc. developed-market index upgrade.
- Trading runs from 6 a.m. Monday to 6 a.m. Saturday during U.S. daylight saving time, replacing the previous 9 a.m. to 2 a.m. regime; the won initially rose 0.2% before easing 0.1%.
- "This is the starting point for the won's global leap," Finance Minister Koo Yun-cheol said during a bank trading floor visit, describing the move as essential infrastructure.
- Analysts warn that thin overnight liquidity could leave the currency vulnerable to shocks, as Iran-related energy price hikes pressure foreign investors to sell domestic equities.
14 Articles
14 Articles
Global Market: South Korea launches 24-hour onshore dollar-won trading to boost global market appeal
South Korea has launched a 24-hour onshore dollar-won trading system, a significant move to boost currency accessibility and global appeal. This extended trading window aims to attract foreign investors and improve market liquidity, aligning with Seoul's ambition for developed market status in global indices. The reform is expected to enhance the won's international role and attract more foreign investment.
Deputy Prime Minister Koo Yun-chul visits dealing room on first day of 24-hour foreign exchange market opening; starting point for the Korean Won's global leap. On the 6th, Deputy Prime Minister and Minister of Finance and Economy Koo Yun-chul, regarding the 24-hour opening of the foreign exchange market, stated that as foreign exchange transactions by domestic and foreign investors and import/export companies become possible without time constr…
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