Forex Market's 24-Hour System Begins; Businesses Welcome Swift Risk Management

South Korea's foreign exchange market officially began operating 24 hours a day on July 6, marking a significant shift in its financial landscape. The move aims to enable businesses to swiftly manage currency risks and attract foreign investment.

Dealers at Hana Bank's trading room in Seoul were actively engaged from early morning, with one transaction involving $10 million for Samsung Electronics being completed. The won-dollar exchange rate closed at 1530.3 against the dollar, an increase of 4.7 won from the previous day, influenced by foreign investors' continued selling on the KOSPI.

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100 million dollars sold!

While companies anticipate enhanced agility in responding to overnight currency fluctuations, some experts express caution. They point to the potential for increased volatility, especially if nighttime trading volumes do not reach sufficient levels to ensure market stability. This new system is expected to facilitate easier investment in the Korean won for foreign entities.

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8.0! Done!