Korea foreign currency transactions surged in 2000

Foreign exchange transactions by domestic financial institutions, including spot and futures markets, increased sharply in 2000 to $8.9 billion a day, up from $6.9 billion in 1999, the Bank of Korea (BOK) said on Mar 11, 2001.

The central bank ascribed the increase in foreign exchanges trading to the fact that a huge amount of foreign money has flowed into nation after foreign exchange transactions were liberalized in 1999. The other reason was that trading companies have been very involved in