Foreign currency deposits decreased in 4 months… $4.8 billion in income payments ↓

Residents’ foreign currency deposits, which were the largest in history at the end of last year, decreased by about 5 billion dollars last month.

According to the’Trends of Foreign Currency Deposits for Residents in January’ announced by the Bank of Korea on the 18th, the balance of foreign currency deposits for residents of foreign exchange banks as of the end of last month was $89.38 billion. It is $4.82 billion less than December ($942 billion).

Foreign currency deposits for residents refer to domestic foreign currency deposits by Koreans, domestic companies, foreigners who have lived in Korea for more than 6 months, and foreign companies that have entered the country.

Earlier, foreign currency deposits broke the record for three consecutive months since June of last year, and then briefly decreased in September (-3.1 billion dollars), but after that, it broke the record for three consecutive months from October to December.

Resident foreign currency deposit balance by currency

picture explanationResident foreign currency deposit balance by currency

▶ Click here for a larger view

By entity, corporate deposits ($69.68 billion) decreased by $4.71 billion in a month, and personal deposits ($197 billion) decreased by $110 million.

In terms of currency types, deposits in dollar ($76.160 million) decreased by $3.88 billion from the end of December, and euros ($4.36 billion) and yen ($5.25 billion) were also $350 million, respectively. $190 million fell out. The renminbi ($1.8 billion) also fell by $180 million.

A BOK official explained, “The dollar was mainly affected by the payment of income payments by companies and the sale of spot exchange due to the increase in the KRW/USD exchange rate. did.

Resident foreign currency deposit balance by subject

picture explanationResident foreign currency deposit balance by subject

▶ Click here for a larger view

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