Published: 22 Apr. 2026, 16:08
Updated: 22 Apr. 2026, 17:43
![U.S. dollar notes and Korean won at a branch of Hana Bank in central Seoul on April 3. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2026/04/22/2cd924d3-b06f-4c09-aacf-4345ddd28f93.jpg)
U.S. dollar notes and Korean won at a branch of Hana Bank in central Seoul on April 3. [YONHAP]
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Resident foreign currency deposits in Korea fell by the largest margin on record in March as a weaker local currency spurred conversions into the U.S. dollar, central bank data showed Wednesday.
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Outstanding foreign currency-denominated deposits held by residents stood at $102.17 billion at the end of March, down $15.37 billion from a month earlier, according to the data from the Bank of Korea (BOK).
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It marked the largest decline ever, with the previous record set in February 2023, when the figure fell by $11.73 billion.
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Residents include Korean citizens, foreigners who have lived in the country for more than six months and foreign companies. The data excludes interbank deposits.
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By currency, U.S. dollar-denominated deposits fell $10.36 billion to $85.64 billion, marking the sharpest drop ever.
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Euro-denominated deposits declined $3.28 billion to $6.31 billion, while Japanese yen deposits fell $1.49 billion to $7.82 billion.
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Corporate foreign currency deposits dropped $13.43 billion from a month earlier to $86.8 billion, while individual holdings decreased $1.93 billion to $15.37 billion.
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“The decline came as corporate demand for the won increased due to payments to domestic business partners and end-March corporate tax payments, while a rise in the won-dollar exchange rate led to increased currency conversions,” a BOK official said.
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The won stood at 1,530.1 per dollar at the end of March, compared to 1,439.7 a month earlier, as the ongoing crisis in the Middle East heightened overall volatility.
Yonhap




















