# S. Korea's daily FX turnover dips 5% last year amid won's gain - The Korea Herald

> 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%.

- Date: 2021-01-28 · published 2021-01-28T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/49390-s-korea-s-daily-fx-turnover-dips-5-last-year-amid-won-s-gain-the-korea-herald
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

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.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- koreaherald.com: https://www.koreaherald.com/article/2547985

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.