Against the backdrop of the dollar falling to a 23-month low, dollar deposit balances at South Korea's major banks reached a record high, while individual dollar deposits also increased. Yen deposits are also trending higher.
As the dollar continued to weaken, dollar deposit balances at South Korea's five major commercial banks totaled $76.983 billion as of the 3rd, their highest level since 2021. The balance increased further this month from $76.34 billion at the end of last month. Corporate dollar deposits reached a record $63.302 billion.
Individual dollar deposit balances rose to $13.681 billion, their highest level in 3 years and 7 months. Yen deposit balances also reached ¥1.12433 trillion, among the highest levels on record at this point, as the yen's weakness encouraged more active purchases of yen at lower prices. The amount converted into yen totaled ¥6.3 billion, rising to a level comparable with the total for August.