Corporate Dollar Deposits at Major South Korean Banks Hit Record High

According to The Korea Herald, corporate dollar deposits at five major South Korean banks rose to a record $76.98 billion as of Thursday, as the won-dollar exchange rate fell to its lowest level in almost two years. The five banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — have compiled the data since May 2021. The Korean won was quoted at 1,345 won per dollar as of 10:30 p.m. Sunday.