South Korea’s Foreign-Currency Deposits Rise $1.57 Billion in May on Corporate Dollar Holdings
Summary
- The balance of residents’ foreign-currency deposits stood at $112.25 billion at the end of May, up $1.57 billion.
- Dollar deposits rose by $2.24 billion to $95.56 billion, driven by inflows of current-account payments at large companies and margin deposits for securities firms’ derivatives transactions.
- By depositor, corporate deposits increased by $2.54 billion to $97.42 billion, while individual deposits fell by $960 million to $14.83 billion.
Foreign-currency deposits held by South Korean residents rose by $1.57 billion in May, led by an increase in corporate dollar deposits.
Outstanding foreign-currency deposits held by residents stood at $112.25 billion at the end of May, according to Bank of Korea data released on June 26.
Dollar deposits increased by $2.24 billion to $95.56 billion, as large companies saw inflows of current-account payments and securities firms received margin deposits for derivatives transactions.
Yen deposits, by contrast, fell by $690 million to $7.52 billion, while euro deposits declined by $280 million to $6.3 billion.
By depositor, corporate deposits rose by $2.54 billion to $97.42 billion, while individual deposits fell by $960 million to $14.83 billion.
Han Kyung-woo, Hankyung.com reporter, case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.