Temporary Holiday Impact... BOK, Currency Supply Up 8.8% Before Seol

by Kim Hye Min

Published 24 Jan.2025 12:00(KST)

A Total of 5.1 Trillion Won Supplied

The Bank of Korea supplied approximately 5.1 trillion won in currency to financial institutions ahead of the Lunar New Year holiday.

On the 14th, fifteen days before Seollal, cash transport company officials are conducting the release of Seollal funds to be supplied to commercial banks at the Bank of Korea headquarters in Jung-gu, Seoul. 2025.01.14 Photo by Joint Press Corps

According to the "2024 Pre-Lunar New Year Currency Supply Performance" announced by the Bank of Korea on the 24th, the amount of currency supplied to financial institutions during the 10 business days before the Lunar New Year holiday (January 13?24) was 5.0638 trillion won. The supplied currency refers to the net issuance amount, which is the issuance amount minus the amount withdrawn.

The supply volume increased by 407.7 billion won (8.8%) compared to the Lunar New Year holiday last year. A Bank of Korea official stated, "The issuance amount increased due to the extension of the Lunar New Year holiday period from the usual 3 days to 6 days, as January 27 was designated a temporary holiday."

Meanwhile, the currency issuance amount was 5.3991 trillion won, an increase of 589.8 billion won (12.3%) compared to last year. The currency withdrawal amount was 335.2 billion won, increasing by 182 billion won (118.8%) during the same period.