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South Korea Officially Launches 24-Hour Trading Mechanism for the Won Spot Foreign Exchange Market
Svmuu News: South Korea officially launched a 24-hour spot USD/KRW trading mechanism on Monday to enhance the convertibility of the won and secure developed market status in the MSCI World Index. Under the new mechanism, South Korea’s domestic spot foreign exchange market will open at 6:00 a.m. every Monday and trade continuously until 6:00 a.m. on Saturday, resulting in 120 hours of continuous trading per week. South Korean Finance Minister Koo Yun-chul stated that this move will serve as “an important starting point for the won’s globalization.” (Reuters)
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