South Korea FX equalisation fund's profit jumps 80 percent

Net profit from South Korea's foreign exchange equalisation fund jumped by 80 percent in 2015 from a year earlier as the dollar strengthened, government data showed on Wednesday.
The fund, set up to stabilise financial markets at times of high volatility, posted a 3.6 trillion won ($3.23 billion) net profit for the year, up from 2 trillion won in 2014, the finance ministry said in a statement for an annual parliamentary audit.
The fund's accumulated net loss shrank to 34.6 trillion won ($31 billion) as at end-2015, narrowing for a second year. It reported a loss of 40.3 trillion won in 2013.
The dollar gained around 6 percent against the won during 2015, increasing the value of the fund when converted into the local currency.