| Mobile Web

Search results for Japanese yen

Finance

Toss Bank apologises for yen exchange rate system error, offers 10,000 won compensation for abnormal trades

Toss Bank apologised on March 16 for confusion and inconvenience caused by an error in its Japanese yen exchange rate notice system between 7:29 p.m. and 7:36 p.m. on March 10. The bank said an internal system that calculates posted rates based on exchange rate data received from an external institution did not operate normally during that time. It said it is checking the cause, strengthening verification and monitoring, and improving systems. It will pay 10,000 won for abnormal trades and provide vouchers if needed.

Finance

Toss Bank to cancel or correct yen exchange deals after half-price rate error

Toss Bank apologised to customers after mistakenly posting the Japanese yen exchange rate at about half the normal level. The bank said the error occurred from 7:29 p.m. on March 10 and lasted about 7 minutes during inspection and improvement work aimed at stabilising its foreign exchange system. It said it detected the issue through its abnormal-rate alert system, restored normal postings within about 7 minutes, and will correct or cancel yen exchange deals made during the period.

Finance

FSS to inspect Toss Bank after \'half-price yen\' forex error, loss estimated at 10 billion won

South Korea\'s Financial Supervisory Service will begin an on-site inspection of Toss Bank to check the cause of a foreign exchange conversion error and the scale of damage, the financial sector said on Tuesday. The incident applied a rate of about 472 won per 100 yen for about 7 minutes, versus a normal level of about 934 won. Toss Bank is estimated to be assessing losses at about 10 billion won.