Dollar deposits at South Korea’s top five banks surged by over 1 trillion won in a day as investors bet on further dollar strength, despite ongoing government intervention to stabilize the won.
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'Dollar Expected to Rise Further'—Bank Dollar Deposits Surge by 1 Trillion Won in a Single Day
Dollar deposits at South Korea’s top five banks surged by over 1 trillion won in a day as investors bet on further dollar strength, despite ongoing government intervention to stabilize the won.
Calls are mounting in Seoul’s FX market for the Bank of Korea to consider rate hikes to stem the won’s slide, as the dollar strengthens on persistent U.S.-Korea growth differentials and robust overseas investment demand, though experts warn that rate hikes may do more harm than good for the domestic economy.
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Seoul FX Market—Why Calls Are Growing for Rate Hikes to Tame the Strong Dollar
Calls are mounting in Seoul’s FX market for the Bank of Korea to consider rate hikes to stem the won’s slide, as the dollar strengthens on persistent U.S.-Korea growth differentials and robust overseas investment demand, though experts warn that rate hikes may do more harm than good for the domestic economy.
South Korea’s resident foreign currency deposits surged by $5.1 billion in May, driven by increased investor deposits at securities firms and corporate overseas investment funds, according to the Bank of Korea.
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Resident Foreign Currency Deposits Rise by $5.1 Billion in May—Boosted by Securities Firm Deposits
South Korea’s resident foreign currency deposits surged by $5.1 billion in May, driven by increased investor deposits at securities firms and corporate overseas investment funds, according to the Bank of Korea.
FX Swap Points Rise Across All Tenors Amid Oversold Sentiment
FX swap points rise across all tenors as market perceives recent declines as excessive, with potential for further increases if short-term tenors recover and bank dollar deposits grow
Foreign Currency Deposits Decrease by $1.6 Billion in March - Impact of Overseas Direct Investment and Import Payments
South Korean foreign currency deposits fall $1.59 billion in March, hitting lowest level since July 2024, driven by overseas investments and import payments
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