WORLD S. Korea's foreign currency deposit hits record high in December


S. Korea's foreign currency deposit hits record high in December


14:26, January 25, 2023

(Photo: Xinhua)

SEOUL, Jan. 25 (Xinhua) -- South Korea's foreign currency deposit hit a record high last month as companies placed more U.S. dollar fund in bank accounts, central bank data showed Wednesday.

Deposit, denominated in foreign currencies, came in at 110.98 billion U.S. dollars at the end of December, up 3.59 billion dollars from a month earlier, according to the Bank of Korea (BOK).

It has marked the highest since relevant data began to be compiled in 2012, keeping a record-breaking trend for the second successive month. The foreign currency deposit continued to grow for four months in a row.

Local companies sought to secure more dollar fund amid rising uncertainty over the global economy.

Deposit, denominated in the U.S. dollar, gained 1.86 billion dollars from a month earlier to 95.38 billion dollars at the end of December, and the Japanese yen deposit grew 0.53 billion dollars to 6.61 billion dollars.

The euro deposit increased 0.99 billion dollars to 5.50 billion dollars, and the Chinese yuan deposit climbed to 1.78 billion dollars.

Foreign currency deposit, owned by companies, rose 3.28 billion dollars to 96.10 billion dollars, and the individuals-possessed deposit added 0.31 billion dollars to 14.88 billion dollars.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue