사진 확대

Since the 24-hour opening of the foreign exchange market, the won-dollar trading volume has increased by more than 10%, indicating that market liquidity has expanded. In addition, the won per dollar rose about 10 percent to 1,410 won in the second half of this year due to the combination of abundant liquidity and demand for currency exchange by companies. The government plans to further improve the foreign exchange and capital market system by the end of this year with the aim of registering the MSCI (Morgan Stanley Capital International) index as a target country for observation next year.

The Ministry of Finance and Economy announced on the 14th that it held a meeting of the Foreign Exchange Prudential Council and the TF to promote the incorporation of MSCI index of advanced countries at the Bank Hall in Jung-gu, Seoul, presided over by Heo Jang, the second vice minister of the Ministry of Finance. The meeting was attended by related organizations such as the Ministry of Finance and Economy, the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, the Korea Exchange, and the Korea Securities Depository.

According to the ministry, the average daily trading volume of the interbank market increased by 10.1 percent from $17.39 billion in the first half of this year to $19.14 billion since the 24-hour opening of the currency market on June 6. In other words, foreign exchange liquidity has become that abundant.

However, late-night transactions are still in the early stages of implementation and are increasing at a moderate pace due to time lag with overseas financial markets. In response, related agencies decided to encourage domestic banks to actively participate in late-night transactions by giving weight to late-night trading volume when selecting leading won and dollar markets.

In addition, related agencies reviewed the implementation status and future plans of the "Comprehensive Roadmap to Foreign Exchange and Capital Markets for the Incorporation of MSCI Index of Advanced Countries" announced in January.

As a result of the inspection, 30 out of 39 tasks (77%) in the eight major areas of the MSCI roadmap have been completed so far. The related organization has decided to implement three additional tasks this year. These include distribution of e-FX guidelines to revitalize foreign exchange transactions, easing the burden of liquidity in securities settlements by improving payment promotion payments, and establishing and operating a "Bank of Korea Won International Settlement Network."

The government plans to continuously increase accessibility to the foreign exchange market and convenience of payment to effectively solve the inconvenience experienced by foreign investors when using the domestic market. In particular, if the foreign exchange market opens 24 hours a day and the KRW's overseas settlement infrastructure is established, foreign investors can exchange won and settle securities regardless of the operating hours of domestic financial institutions. The government aims to complete the remaining system improvement by the end of the year and then list it on the list of developed countries' index observation targets in the MSCI's market accessibility assessment in June next year.