South Korea interbank FX volumes shoot up
Figures from the Bank of Korea (BoK) showed trading activity jumped significantly last year compared to the previous year's statistics. Average daily volumes grew by 37% in 2006 from 2005 trading volumes.
A BoK official in Seoul said the increased activity was mainly driven by an increase in cross-border trades from growing exports. The official added that rising global volatility led to a surge in trades for both hedging and speculative purposes.
"Global volatility from the US subprime [crisis]
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