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S.Korean currency's volatility posts 4-year high in 2015

Xinhua, January 14, 2016 Adjust font size:

South Korean currency's volatility posted the highest in four years in 2015 due to sharp move in the U.S. dollar, caused by expectations for the U.S. rate hike, central bank data showed Thursday.

The won/dollar exchange rate logged a daily average volatility of 0.58 percent in 2015, according to the Bank of Korea (BOK). It was the highest since 2011.

The won's volatility came as expectations for the U.S. rate hike caused fluctuations in the dollar. The U.S. Federal Reserve began its policy rate in December for the first time in about a decade.

The won/dollar exchange rate was 1,172.5 won per dollar as of the end of 2015, up 73.2 won from a year earlier.

Foreign currency transactions in inter-bank market averaged 23.58 billion dollars per day in 2015, up 12.1 percent from the previous year.

Foreign currency forwards trade by local companies tumbled 30.5 percent last year due to soft demand from the heavy industry amid falling orders of ships. Endit