KRW-USD trading begins a 24-hour system
With the KRW-USD trading 24-hour system, currency exchange and foreign exchange risk management become easier. Check the changes in won accessibility and volatility outlook as the foreign exchange market remains open until the early morning session.
Trading of the wondollar pair in the Korean foreign exchange market has shifted to a 24hour weekday system. Previously, trading was possible from 9 a.m. until 2 a.m. the next day, but now it can be traded from 6 a.m. on Monday to 6 a.m. on Saturday.
The government and the Bank of Korea believe this measure will make it easier for foreign investors and importexport companies to respond to currency exchange and exchangerate risks. In particular, they explained that if spot trading continues in the domestic market even during the early morning hours, it can reduce the impact of overseas markets and increase access to the won.
However, concerns have also been raised that during latenight hours with low trading volume, exchange rates could move sharply depending on external factors. The foreign exchange authorities stated that they will closely monitor market volatility and respond accordingly.