Koreans Boost Foreign Currency Holdings to Four-Month High

South Korean residents boosted their foreign currency holdings by $1.08 billion in June, reaching a four-month high of $113.33 billion. The increase was driven by large semiconductor export proceeds and rising funds invested overseas.

The Bank of Korea attributed the surge to larger customer deposits at securities firms for margin collateral and funds earmarked for international equity investments, as well as export payments received by corporations.

U.S. dollar deposits soared to a record $97.8 billion, accounting for 86.3 percent of total foreign currency deposits. Corporate dollar deposits also reached an all-time high of $85.58 billion.