The turnover of dollar futures at the Korean Exchange (KRX) declined by nearly 20 percent this year on reduced foreign exchange (forex) volatility and a prolonged recession, data showed Monday.
The daily turnover of dollar futures came to 226,692 contracts in the first three quarters of this year, down 19.9 percent from 283,115 contracts tallied a year ago, according to South Korea’s main bourse operator KRX.
The number of contracts unsettled averaged 590,210 per day, down 24.3 percent from 779,602 a year ago.
The decrease was caused by reduction in futures prices and the day’s price volatility. Due to the won’s appreciation, futures prices dropped to close to the 1,080 won and the daily price volatility shrank from 9.5 won on average in 2010 to 4.6 won in the three-quarter period.
Among investors, domestic institutional investors represented 68.4 percent this year, down from 73.1 percent in 2010, whereas foreign investors accounted for 20.8 percent, up from 11.2 percent in the same period.
[Written by Yong-young Kim / edited by Soyoung Chung]
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