S. Korea's daily FX turnover up 13.6 pct in Q2

SEOUL, Aug. 19 (Yonhap) -- Foreign exchange turnover by banks in South Korea rose for the first time in more than a year in the second quarter amid eased currency volatility, the central bank said Wednesday.

The daily foreign exchange turnover averaged US$44.46 billion in the April-June
period, up 13.6 percent from three months earlier and the first rise after a
fourth consecutive quarterly decline, according to the Bank of Korea (BOK).
"FX turnover rose last quarter as the eased global financial turmoil helped
decrease currency fluctuation," a BOK official said.
Daily trading volume on the traditional foreign exchange market, comprising spot
and forward trading and foreign exchange swaps, climbed 13.4 percent on-quarter
to $37.72 billion last quarter, the BOK said.
The daily turnover for spot trading rose 14 percent to $14.23 billion as
inter-bank FX transactions increased amid easing currency volatility, it added.
The Korean currency gained 7.2 percent against the U.S. dollar in the second
quarter. Hit by the U.S.-sparked global financial crisis, the Korean won plunged
25.7 percent against the dollar last year alone.