Foreign currency deposits enter the $120 billion range for the first time

[Financial News] Foreign currency deposits at foreign exchange banks increased by 15 billion won in a single month, surpassing the $120 billion mark for the first time. Analysis suggests that demand for preemptive dollar buying due to the decline in the KRW/USD exchange rate played a key role.
According to the 'Resident Foreign Currency Deposit Trends for July 2026' released by the Bank of Korea on the 28th, the balance of resident foreign currency deposits at domestic foreign exchange banks stood at $128.34 billion as of the end of last July. This is an increase of approximately $15.01 billion compared to the end of the previous month ($113.33 billion).
This marks the fourth consecutive month of growth since last April, with this month's increase being the largest so far this year. Consequently, reaching the $120 billion range is an all-time record high.

It seems everyone is stockpiling while it's cheap.