Deposit Balance Hits Highest Level since June 2012
The Bank of Korea announced on Jan. 25 that residents’ foreign currency deposits increased by US$3.59 billion to US$110.98 billion last month. The deposits consist of those owned by local individuals and companies, foreigners staying for at least six months in South Korea, and foreign companies doing business in South Korea.
The deposit balance increased for the fourth consecutive month and reached the highest level since records began in June 2012 for the second consecutive month.
Their U.S. dollar deposits increased US$1.86 billion to US$95.38 billion. Their euro deposits increased US$990 million to US$5.5 billion, yen increased by US$530 million and yuan increased by US$230 million.
Enterprises’ foreign currency deposits increased US$3.28 billion to US$96.1 billion and individuals’ increased US$310 million to US$14.88 billion. Those at domestic banks increased US$2.03 billion to US$100 billion and those at foreign bank branches increased US$1.56 billion to US$10.98 billion.