A substantial wave of foreign currency exchange requests worth an estimated $1.5 billion connected to SpaceX’s initial public offering has been processed in South Korea, according to an informed source who spoke with Reuters on Wednesday.
The enormous volume of currency conversion requests tied to the SpaceX IPO had put considerable pressure on South Korea’s won currency over the past several weeks, but this demand has now been resolved.
According to the source, who has access to information about dollar-won transactions in the domestic market, the approximately $1.5 billion worth of requests to purchase dollars has completed its final phase.
The source requested anonymity due to the sensitive nature of the information.
