South Korea's IRS Rates Fall Across All Tenors on July 21, 1-Year Drops to 3.42%

According to Yonhap Infomax, South Korea's interest rate swap (IRS) rates fell across all tenors on July 21, with the 1-year rate declining 1.50 basis points to 3.42%, the 2-year dropping 5.00bp, 3-year down 4.50bp, 5-year falling 3.75bp to 4.0375%, and 10-year decreasing 2.50bp to 4.15%.

A dealer at a major securities firm attributed the broad decline to strong buying demand from foreign investors and a weaker dollar-won exchange rate. The dealer noted that supply-demand dynamics in the short-term segment remained strong throughout the session, supporting the overall market.