NH Investment & Securities Launches New Foreign Currency RP Auto-Purchase Service

Automatic Purchase of Foreign Currency Deposits as Flexible Term Foreign Currency RP
Pre-Tax Annual Yield of 0.1% Provided

[Asia Economy Reporter Lee Seon-ae] NH Investment & Securities announced on the 20th that it has launched the ‘Foreign Currency RP Auto-Purchase Service,’ which automatically purchases the dollar deposits in accounts as foreign currency (USD) RP (repurchase agreement bonds) in response to the rapidly increasing investment craze among Seohak Gaemi (Korean investors investing in U.S. stocks).

The Foreign Currency RP Auto-Purchase Service automatically purchases the foreign currency deposits in the customer's account as a free-term foreign currency RP without any separate purchase orders after application. Customers can receive a contracted yield of 0.1% per annum before tax even if they deposit for just one day.

With the launch of this service, investors holding dollars can increase the utilization of their dollar assets. For example, investors holding waiting funds for overseas stock purchases can have their foreign currency deposits automatically purchased as RP until the investment, receiving the contracted yield.

Meanwhile, as customer interest in direct overseas stock investment has recently increased, foreign currency deposits are also on the rise. According to NH Investment & Securities, the balance of foreign currency deposits held in 2020 increased more than threefold compared to 2019.

Applications for the Foreign Currency RP Auto-Purchase Service can be made through NH Investment & Securities branches and the Mobile Trading System (MTS) QV and NAMUH platforms.