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Ten days before Lunar New Year, the size of the new credits that citizens changed at the Bank of Korea window was only half of that of last year.
The priesthood is mainly used for Sebatdon during the Lunar New Year holidays, and it seems to be the aftermath of fewer visits to the hometown due to the spread of the novel coronavirus infection (Corona 19).
According to the BOK on the 10th, from January 28 to the previous day, about 3,320 citizens of Ahregan exchanged banknotes for new money through the BOK issuing counter.
Even if the day just before the Lunar New Year holiday is added, it is expected to account for only half of the exchange performance (7,90 cases) for the 10 business days immediately before the Lunar New Year holiday (January 24 to 27) last year.
The amount of money released on the market for 10 business days before the Lunar New Year holiday also decreased compared to last year.
The amount of money (net issuance) that the BOK supplied to financial institutions from January 28 to February 10 was 4.75 trillion won, a decrease of 8814 billion won (15.7%) from the same period last year.
Net issuance is the amount of money issued by the BOK minus the amount returned to the BOK safe. The BOK calculated the net issuance amount by adding the supply results from January 28 to February 8 and the expected supply amount from February 9 to 10.
During this year, the currency issued by the BOK was KRW 5,183 trillion, and the amount redeemed was KRW 270.8 billion.
“The three-day Lunar New Year holiday period was the same as last year, but the net issuance was lower than last year as we refrained from visiting hometown due to social distancing during the holiday season, and private meetings with more than 5 people were banned.
The net issuance amount decreased particularly in the metropolitan area (issuing country -20.6%, Incheon headquarters -41.2%, Gyeonggi headquarters -25.1%) and Gyeongnam headquarters (-22.1%).
The Jeju Headquarters (17.9 billion won → 1137 billion won) is the only company in the country whose net issuance has increased from last year.
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