The Bank of Korea announced on Thursday that dollar-denominated bank deposits held by individuals in South Korea amounted to a record ten-and-a-half billion U.S dollars in July.
 
That’s up 530 million dollars from June and broke the previous record posted in May.
 
Dollar deposits held by individuals in local banks stood at nearly five billion dollars at the end of 2014, around six-point-two billion at the end of 2015 and some eight-point-six billion at the end of last year.
 
Dollar deposits held by companies also grew from June by four-point-three billion to 48-and-a-half billion dollars.  

The central bank attributed the increase to a growth in settlements of export bills and to the Korean currency’s strengthening against the U.S. dollar.