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South Korean banks' average daily foreign exchange turnover fell 5.3% in 2020 to $52.8 billion, according to Bank of Korea data. The won appreciated 6.5% against the dollar over the year, reducing demand for FX hedging.
Spot turnover rose 2.5% on higher foreign stock investment, while derivatives fell 9.5%.
A stronger won makes dollar-priced grain and meal imports cheaper for Korean feed buyers, but the effect on global feed prices is minimal. The story is an FX market statistic rather than a supply or demand signal.
koreaherald.comYonhapJan 28, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
