S. Korea’s foreign currency deposits hit record in Sep. ’24

By Nada Ali On Oct 21, 2024

South Korea’s foreign currency deposits increased by $3.66 billion in September 2024 to a new high of $104.07 billion, representing a 3.6 per cent rise from the previous month, a data from Bank of Korea (BOK) revealed on Monday.

The most significant contributor to the rise was US dollar deposits, which grew by $2.27 billion. Chinese yuan deposits increased by $0.62 billion, and Japanese yen deposits rose by $0.53 billion.

Both individuals and corporations contributed to the increase in foreign currency deposits, with individual deposits rising $1.6 billion and corporate deposits growing $2.0 billion, the report showed.

Attribution: Bank of Korea report

Subediting: M. S. Salama

Bank of Korea Bank of Korea (BOK)BOK Chinese yuan deposits foreign-currency deposits Japanese yen deposits South Korea South Korea’s central bank