South Korea starts 24-hour trading of dollar-won


SEOUL, July 6 (Reuters) – South Korea launched its ‌historic 24-hour onshore spot ‌dollar-won trading system on Monday ​as part of efforts to broaden currency convertibility as it aims to ‌win an ⁠upgrade to developed market status on the ⁠MSCI global index.

The onshore market opened at ​6 a.m. ​on ​Monday (21:00 GMT Sunday) ‌and will run uninterrupted until 06:00 a.m. on Saturday.

This is going to be the “starting point for ‌the won’s global ​leap,” Finance ​Minister ​Koo Yun-cheol said during ‌his visit to ​the ​foreign exchange dealing room of Hana Bank in ​Seoul, ‌according to the ministry.

(Reporting ​by Cynthia KimEditing by ​Shri Navaratnam)



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