Notice Posted at Hana Bank Gangnam Branch
As the dollar-won exchange rate plummeted on December 24, a situation arose at one commercial bank branch where $100 bills were completely depleted.
According to the financial sector on December 24, a Hana Bank branch in the Gangnam area of Seoul posted a notice stating that $100 bills were sold out that day.
In the notice, the branch explained, "A large number of customers came in to exchange US dollars today, so $100 bills ran out quickly," adding, "We expect to restock by Tuesday afternoon (December 30)."
It appears that customers flocked to purchase dollars as the exchange rate, which had been in the 1,480 won range the previous day, plunged to the high 1,440 won range on this day.
The exchange rate dropped sharply by 33.8 won, falling below the 1,450 won mark in one swoop. As the foreign exchange authorities intervened unusually strongly with verbal measures and policy tools to curb the year-end rise in the exchange rate, the rate posted its largest single-day drop in three years and one month.
However, Hana Bank clarified that the temporary depletion was due to the branch manager missing the timing to request dollar bills from headquarters, and that this does not indicate a shortage of dollars.
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