Yen Demand Surges as Investors Bet on Rebounding Currency

The demand for currency technology is shifting from dollars to yen due to mixed exchange rate outlook. The won's price per dollar, which once hit a record high of 1,550 won, has recently remained stable at around 1,300 won.

According to financial sector data, the balance of dollar deposits at five major commercial banks fell sharply by $7.19 billion from the end of last month to $69.15 billion as of this month's 15th.

On the other hand, yen deposits surged, reaching 1.1305 trillion yen as of the 15th, up 47.8 billion yen from the end of last month. This increase has already exceeded the amount seen in August.

The weak yen is attributed to the interest rate gap between the US and Japan, but recent signs suggest a change in trend. The won's continued strength, coupled with expectations that the yen will rebound, has led to an increase in demand for yen deposits.