Deposits Totaled US$94.83 Bil. in April
The Bank of Korea announced on May 17 that residents’ foreign currency deposits increased by US$2.13 billion to US$94.83 billion last month.
The deposits can be defined as 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.
Previously, the deposits fell from US$94.2 billion to US$89.38 billion in January and increased to US$90.03 billion in February and US$92.7 billion in March. The U.S. dollar deposits increased by US$2.43 billion and hit an all-time high of US$81.78 billion last month.
The U.S. dollar deposits of enterprises increased US$1.77 billion to US$63.69 billion last month. Those of individuals rose US$660 million to US$18.09 billion. The monthly average won-dollar exchange rate fell from 1,131.8 won to 1,112.3 won last month.
The euro and yen deposits decreased US$200 million to US$4.15 billion and US$110 million to US$5.41 billion, respectively.
The foreign currency deposits in South Korean banks increased US$1.87 billion to US$83.13 billion. Those in foreign banks’ local branches increased US$260 million to US$11.7 billion. The foreign currency deposits of enterprises and individuals increased US$1.46 billion to US$74.79 billion and US$670 million to US$20.04 billion, respectively.