Key facts
- Total foreign currency deposits reached $154.7 billion in September.
- Deposits increased by $14 billion from August.
- U.S. dollar deposits rose to $132.9 billion.
- Corporate holdings accounted for the largest portion of the increase.
Foreign currency deposits in South Korea reached a record high of $154.7 billion at the end of September, an increase of $14 billion from the previous month, according to data released by the Bank of Korea. The surge was largely driven by a significant rise in U.S. dollar savings, which climbed to $132.9 billion. Euro and Japanese yen deposits also saw increases. The central bank attributed the rise to increased dollar receipts by exporting companies and funds held by local brokerages for foreign bond investments. The data, which excludes interbank deposits, marks the highest level since the BOK began compiling the figures in June 2012.