South Korea launched its historic 24-hour onshore spot dollar-won trading system on Monday as part of efforts to broaden currency convertibility as it aims to win an upgrade to developed market status on the MSCI global index.
The onshore market opened at 6 a.m. on Monday and will run uninterrupted until 06:00 a.m. on Saturday.
According to Finance Minister Koo Yun-cheol, this is going to be the “starting point for the won’s global leap.”
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.