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Of the 50,000 won bills issued by the Bank of Korea this year, only a quarter of the bills have returned.

Because of the Corona, as people spend less money outside, cash transactions have decreased that much.

With such a decrease in consumption, the household savings rate is expected to reach the highest level in 20 years.



This is reporter Jeon Hyeong-woo.



<Reporter>



From January to October this year, the Bank of Korea printed 21.900 trillion won in 50,000 won, but it collected 5,600 trillion won again.



The exchange rate is 25.4%, the lowest since the issuance of 50,000 won.



It fell by nearly 40 percentage points from the same period last year, and markedly less than other bills.



In the aftermath of Corona 19, face-to-face commerce in the lodging industry, restaurants, and leisure service sectors has greatly shrunk.



The cash that these self-employed people leave with financial institutions has plummeted as sales in industries with a high percentage of cash use declined significantly.



Anxiety about storing cash also had an impact.



[Ji-Hoon Ok/Bank of Korea Ticketing Planning Team Manager: After the spread of Corona 19, economic uncertainty and low interest rates continued to increase the demand for



reserves

for 50,000 won.]

Compared with the 1997 foreign exchange crisis and 2008 financial crisis, currency crisis Even though the issuance amount increased, the exchange rate decreased even more.



Therefore, the possibility of an underground economy inflow is also being raised, but the BOK viewed the possibility as low.



The household savings rate is expected to reach around 10% this year due to the aftermath of Corona 19. This is the first time since 1999 that the household savings rate has recorded a double digit.



It is analyzed that households have increased their savings as consumption contracted due to the prolonged coronavirus and expected future income decreased.



(Video editing: Jihye So)