Resident Foreign Currency Deposits in March Reach 92.7 Billion USD... Up 2.67 Billion USD from Previous Month

Bank of Korea 'Resident Foreign Currency Deposit Trends in March 2021'

[Asia Economy Reporter Jang Sehee] Resident foreign currency deposits continued to increase in March, reaching 92.7 billion dollars.

According to the "Resident Foreign Currency Deposit Trends in March 2021" released by the Bank of Korea on the 19th, resident foreign currency deposits at foreign exchange banks last month amounted to 92.7 billion dollars, an increase of 2.67 billion dollars compared to the end of the previous month (90.03 billion dollars). Resident foreign currency deposits refer to domestic foreign currency deposits held by domestic companies, foreigners residing in Korea for more than six months, and foreign companies operating in Korea.

By currency, dollar deposits (79.35 billion dollars) increased by 2.43 billion dollars from the previous month, and yen deposits (5.52 billion dollars) also increased by 170 million dollars. Dollar deposits increased mainly among corporations (+2.57 billion dollars) due to temporary deposits of scheduled payment funds by some companies and customer deposits by securities firms.

Yen deposits increased due to temporary deposits of corporate foreign currency borrowings, reaching 5.52 billion dollars. Yuan deposits also rose by 100 million dollars from the previous month to 1.78 billion dollars.

By bank type, domestic banks recorded 81.26 billion dollars, an increase of 1.57 billion dollars, while foreign bank branches recorded 11.44 billion dollars, an increase of 1.1 billion dollars.

By depositor type, corporate deposits increased by 2.83 billion dollars to 73.33 billion dollars, whereas individual deposits decreased by 160 million dollars to 19.37 billion dollars.

This content was produced with the assistance of AI translation services.