Exclusive-Dollar demand estimated at $1.5 billion cleared in South Korea -source
By Yena Park and Cynthia Kim
SEOUL, June 10 (Reuters) – The massive demand for foreign exchange conversions tied to SpaceX’s IPO, which has weighed heavily on the South Korean won in recent weeks, has been cleared, a source familiar with the matter told Reuters on Wednesday.
The estimated $1.5 billion in orders for dollar purchases has reached its final stage, said the source who has information on dollar-won onshore market transactions.
The source asked not to be named because of the sensitivity of the matter.
