Resident Foreign Currency Deposits in December $97.27 Billion... $5.8 Billion Decrease

Trends in Resident Foreign Currency Deposits in December 2021

[Asia Economy Reporter Jang Sehee] As of December last year, residents' foreign currency deposits amounted to 97.27 billion dollars, showing a decrease of 5.75 billion dollars compared to the previous month. This decline was influenced by reductions in dollar and yuan deposits.

According to the "Resident Foreign Currency Deposit Trends in December 2021" released by the Bank of Korea on the 16th, residents' foreign currency deposits at foreign exchange banks last month totaled 97.27 billion dollars, down 5.75 billion dollars from the end of the previous month (103.02 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, U.S. dollar deposits recorded 82.96 billion dollars, a decrease of 5.84 billion dollars. Corporations withdrew 6.08 billion dollars due to payments related to overseas company acquisitions. On the other hand, individual deposits increased by 240 million dollars.

Yuan deposits amounted to 1.87 billion dollars, down 240 million dollars from the previous month. This was influenced by withdrawals related to capital transactions by some companies.

By economic agents, corporate deposits decreased by 6.02 billion dollars compared to the previous month. Meanwhile, individual deposits increased by 270 million dollars to 18.77 billion dollars.

Meanwhile, by bank type, domestic banks (87.97 billion dollars) and foreign bank branches (9.3 billion dollars) decreased by 1.8 billion dollars and 3.95 billion dollars, respectively.