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(Seoul=Yonhap Infomax) Seon Mi Jeong – FX swap points in South Korea’s foreign exchange market saw mixed movements across maturities on Wednesday, with short- and medium-term tenors edging higher on bargain buying, while the one-year tenor declined amid continued asset swap supply.
According to market sources, the one-year FX swap point closed at -21.70 won, down 0.10 won from the previous session. Compared to the opening level of -21.50 won, it fell by 0.20 won.
The six-month tenor ended at -13.00 won, down 0.10 won from the previous day. The opening price was -13.10 won, marking a 0.10 won increase during the session.
The three-month swap point rose 0.25 won to -6.80 won, up 0.10 won from the opening level of -6.90 won.
The one-month tenor gained 0.20 won to -2.20 won, also up 0.10 won from the opening price of -2.30 won.
In the ultra-short-term segment, the overnight swap point was quoted at -0.07 won, while the tomorrow-and-next (T/N) was at -0.19 won.
“Short-term swaps had been under pressure for some time, but bargain buying—mainly from foreign bank branches—has driven a rebound since yesterday,” said a foreign exchange dealer at a local bank. “On the long end, persistent asset swap supply continued to weigh on prices.”
smjeong@yna.co.kr
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