South Korea's FX Swap Points Hit Positive 0.20 Won on July 28, First Time Since June 2022

SK Hynix-11.72%
SKHY-7.42%
According to Yonhap Infomax, on July 28, South Korea's FX swap points surged across all tenors, with the 1-month rate closing at positive 0.20 won at Seoul Foreign Exchange Brokerage—the first positive close since June 2, 2022. Overnight and T/N rates also turned positive at 0.080 won and 0.010 won respectively, signaling broad short-term strength. Market participants attributed the spike partly to dollar liquidity from SK Hynix's U.S. ADR financing and export-related negotiation volumes.
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