Foreign currency deposits by domestic residents fell by more than $2.1 billion last month.
According to the ‘Resident Foreign Currency Deposit Trend’ released by the Bank of Korea on the 22nd, the balance of foreign currency deposits at foreign exchange banks as of the end of June this year was 87.06 billion dollars, down by 2.11 billion dollars from the previous month.
In May, it turned to an increasing trend for the first time in three months, and then returned to a decreasing trend again in a month.
Looking at the first half of this year, it is understood that the decrease was $10.21 billion in six months from $97.27 billion at the end of last year.
Resident foreign currency deposits are domestic foreign currency deposits for Koreans and domestic companies, foreigners who have lived in Korea for more than 6 months, and foreign companies entering Korea.
By currency, deposits in dollars were down $1.74 billion from the previous month to $73.61 billion, and deposits in euros were down $500 million to $4.63 billion.
By entity, corporate deposits decreased by 1.34 billion dollars to 72.57 billion dollars as of the end of June, and personal deposits decreased by 770 million dollars to 14.49 billion dollars from the previous month.
An official from the BOK explained, “It seems that deposits in dollars have decreased due to corporate income settlement payments, withdrawal of overseas investment funds, and increased selling of dollars by individuals.”