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Finance

Won-dollar exchange rate closes in 1,300 won range for first time in 10 months

The won-dollar exchange rate fell into the 1,300 won range for the first time in about 10 and a half months. In Seoul’s foreign exchange market on Aug. 19, it was at 1,399.0 won around 12:02 p.m. It was the first time it dipped below 1,400 won since Oct. 2 last year. The rate opened at 1,413.3 won and extended losses to close at 1,397.7 won, down 14.1 won.

Crypto

Bitcoin spot ETFs see $137.3 million net inflows, with clear tilt to Fidelity

Bitcoin spot exchange-traded funds shifted to net inflows of $137.3 million on Aug. 17, local time, but most of the money went into Fidelity’s Wise Origin Bitcoin Fund, raising doubts about a broad recovery in demand. Data showed FBTC took in $111.9 million, while ARKB and MSBT recorded smaller inflows. BlackRock’s IBIT was not yet confirmed. The inflow followed five straight trading days of outflows.

Crypto

Binance doubles portfolio margin leverage for XRP and RLUSD to 10 times, users should review existing positions

Binance will raise the maximum portfolio margin leverage for XRP and RippleUSD (RLUSD) from 5 times to 10 times, blockchain media outlet U.Today reported on Aug. 18. The change takes effect on Aug. 21 and a system update is expected to take about 30 minutes. The adjustment improves collateral efficiency for RLUSD but also affects the unified maintenance margin ratio, uniMMR. Binance warned users to recalculate collateral and margin before the change to avoid order cancellations or forced liquidations.