At the end of April, dollar deposits were $93.32 billion, up $7.68 billion from the end of the previous month, the Bank of Korea said on the 29th. It was the largest increase in four months since the end of last year (up $8.34 billion). The Bank of Korea said dollars flowed in as stock market sidelined funds.
According to the "Trends in Residents' Foreign Currency Deposits in April" released by the Bank of Korea that day, total foreign currency deposits, including dollar deposits, were $110.68 billion, up $8.51 billion from the end of the previous month. More than 90% of the increase in foreign currency deposits was in dollars.
By sector, corporations' dollar deposits were $80.04 billion, up $7.33 billion from the previous month. Individuals were found at $15.8 billion, up $430 million. Corporations accounted for 85.8% of total dollar deposits.
The Bank of Korea said, "Dollar deposits increased due to a rise in investor settlement funds at securities firms, inflows of funds for overseas investment execution by pension funds, and receipts of current transaction payments by large corporations."
Total foreign currency deposits, including dollar deposits, were $110.68 billion, up $8.51 billion from the previous month. Yen deposits were $8.22 billion, up $400 million; euro deposits were $6.57 billion, up $260 million; and yuan deposits were $1.35 billion, up $180 million.