South Korea's 1-Year FX Swap Points Rise 0.70 Won to -12.90 Won on July 24 Amid Dollar Surplus

SK Hynix-8.33%
SKHY2.54%
SKHYV-0.98%
According to Yonhapinfomax, on July 24, South Korea's 1-year FX swap points rose 0.70 won to close at -12.90 won, while 6-month and 3-month tenors gained 0.70 won and 0.40 won respectively. The rally across all tenors reflected tight Korean won supply against ample dollar liquidity, driven by month-end WGBI index rebalancing flows, SK Hynix ADR listing proceeds, and substantial dollar deposits held by banks. Swap dealers noted elevated sell-bid demand as the won squeeze extended from short-term to longer-dated maturities.
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