This year alone, deposits in Japanese yen at the five major banks have increased by 14 trillion yen.

This year alone, deposits in Japanese yen at the five major banks have increased by 14 trillion yen.: COMPANY / Reporter Kim Jisun / 2024-07-01 03:24:28

(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Jisun] According to banking sources on the 30th, deposits in Japanese yen at the five major banks, including KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup Bank, have increased by approximately 1.294 trillion yen as of the 27th of this month compared to the end of last year. This marks a growth of 14.1%, amounting to 1.594 trillion yen (about 1.3778 trillion won).

The increase in yen deposits can be attributed to the yen depreciation trend. As the value of the yen declines, there has been an increasing demand for investment to capitalize on exchange rate differentials.

The yen-dollar exchange rate surpassed 161 yen on the 28th, reaching its highest level since December 1986. Similarly, the Korean won-yen exchange rate was at its lowest since January 2008, at 855.60 won per 100 yen as of 3:30 PM on the same day.

However, the rate of increase in yen deposits over the first six months of this year has slightly decreased compared to the first half of last year (206.3 billion yen) and the second half of the same year (195.7 billion yen).