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Foreign Currency Deposits in Euro, Yen, and Dollar Decreased for Three Consecutive Months

NSP NEWS AGENCY, By Eun-young Huh and Soo-in Kang, 2024-04-23 17:59 ENX7
#Foreign Currency #Deposits

(Seoul=NSP NEWS AGENCY) = At the end of last month, resident foreign currency deposits at foreign exchange banks has been on the declined for three consecutive months, amounting to $95.01 billion (KRW 130.8667 trillion). Deposits in euros, yen, and dollars all decreased.

According to the 'Trends in Resident Foreign Currency Deposits for March 2024' released by the Bank of Korea on 23rd, resident foreign currency deposits at foreign exchange banks decreased by $1.12 billion (KRW 1.5424 trillion) last month, primarily in euro deposits.

Resident foreign currency deposits include foreign currency deposits held by nationals, domestic companies, foreigners residing in the country for more than six months, and foreign companies operating in the country.


By currency, euro deposits decreased by $700 million compared to the end of the previous month. Yen deposits also decreased by $40 million (KRW 55.088 billion), influenced by some companies’ payments for import settlements.

Dollar deposits decreased by $280 million (KRW 385.616 billion) from the end of the previous month. While corporate dollar deposits saw a slight increase, personal deposits decreased due to profit-taking following a rise in the exchange rate.

By entity, corporate deposits decreased by $700 million (KRW 964.04 billion) to $80.05 billion (KRW 110.24486 trillion) , and personal deposits decreased by $420 million (KRW 578.466 billion) to $14.96 billion (KRW 20.602912 trillion).

Among banks, domestic banks saw a decrease of $1.66 billion (KRW 2.286318 trillion), while foreign bank branches increased by $540 million (KW 743.742 billion).

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