Forex Market History In Korea - Reviewed

Forex trading has become an important factor which influences the value of the currency of a country. These days almost all the major countries of the world do trade in forex. Just like other currencies of the world, the Korean currency has established a niche for itself in the forex currency trading world. We’ll have a brief look at the history of forex trading in Korea.

Let us start with the forex market history in Korea during the nineties. The value of into USD-KRW was 800 in the beginning of the year 1997. By the end of the same year there was an increase in this value and it touched the 1600 mark by the end of 1997. This increase in the value also affected the Korean economy in a very detrimental manner.

If we study the very recent forex trading history of Korea, we find that the current value of the Korean currency Won has really suffered a continuous a set back in the recent past as a result of global recession. The decrease in the currency value has a major impact on the economy and the fallout is affecting the Korean currency trading. The value of US dollar in had been doubling against the respective value of the Won.

The depreciation in the currency value suffered against the dollar is the lowest one when compared with forex trading history of Korea of past few years. This has a profound affect on the confidence and sentiments of the forex traders and the investors in Korea.

Though the present scenario has been compared to the time of Forex history in Korea during the 1997, many experts strongly believe that these conditions are entirely different from those ten years back.

In order to balance things the South Korean bank has taken a major step forward and is in talks with the Federal Reserve of United States for immediate funding. The Korea Development Bank has also confirmed that it would sell around eight hundred and thirty dollars in the form of bonds in coming months. Also, a top lender of Korea the Kookmin bank has said that it would also sell its bonds which are short dated.

In the recent history of forex trading in Korea, the fall out in the value of Won has occurred because of the release of 700 billion dollars bailout plan extended by the U.S dollar. This has resulted in the US dollar gaining its position in the forex trading and at the same time, many of the Asian countries along with Korea are facing a tremendous impact.

The ongoing global recession and the liquidity crisis have caused a detrimental impact on the trading of the Korean currency. Therefore it is the need of the hour that steps are taken by the Korean government to uplift its quote in the currency trading.