Hanwha Ocean Sells Over $2 Billion in Forward Contracts on July 13, Raising Hedging Ratio

According to Yonhap Infomax, Hanwha Ocean sold over $2 billion in forward foreign exchange contracts on July 13, continuing a series of currency hedging operations. This follows a $2 billion forward sale on July 10. The company raised its hedging ratio to above 70% last month, marking a shift from its previous open currency position strategy. The sales activity exerted downward pressure on the USD/KRW exchange rate during Seoul trading hours.
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