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Korea Said to Ask for Hourly Currency Reports as Won Slides

  • Central bank asks traders for data on dollar supply and demand
  • Won weakened toward key 1,400 level last week on dollar rally
Updated on

The Bank of Korea has asked foreign-exchange traders to provide hourly reports on the demand for dollars, according to three people with knowledge of the matter, as authorities ramp up oversight of the currency markets to help stem a slide in the won.

Traders were notified Friday that they’d need to start providing hourly reports on dollar demand and supply trends, according to three Seoul-based bankers, who asked not to be identified because they’re not authorized to speak publicly. The move was reported earlier by Korea Economic Daily, which said banks previously were required to report positions three times a day -- in the morning, during the lunch break and after the market close.