Japanese yen has fallen to its lowest level in 20 years.
Then, as the desire to buy at a low price grew, a whopping 1 trillion won was poured into Japanese yen deposits this year alone.
This is reporter Kim Jung-woo's report.
In the foreign exchange market in Seoul today (the 2nd), the yen closed at around 975 won per 100 yen.
It has dropped close to 100 won in two months.
As the perception that the yen is usually around 1,000 won per 100 yen has been broken, the number of people looking for yen has increased dramatically.
At the end of last month, the balance of deposits in yen at the five major commercial banks stood at 5.9 trillion won, an increase of over 1 trillion won in just four months.
In particular, during the month of March, when the yen began to depreciate rapidly, 560 billion won was collected.
It was the exact opposite of the $5 billion and $6 trillion in dollar-denominated deposits in the same month.
It is interpreted that he thought that if he bought Japanese yen now, it would be beneficial either as an investment or as a travel preparation.
[Park Ji-eun/Shinhan Bank Sales Department Manager: There are a lot of inquiries about foreign currency after Corona 19, but it is true that there are many customers visiting for yen exchange or deposits due to the recent drop in the yen exchange rate.]
However, there are voices of concern in the foreign exchange market.
The central bank of Japan is maintaining the interest rate at zero, saying that it will revive the domestic economy even though the US raises the base rate.
So, investors are selling the yen and moving to the more expensive dollar, but the problem is that it is difficult to predict even the mid- to long-term change now.
[Jung-Hoon Seo/Senior Research Fellow at Hana Bank: I can say that the yen continues to gain momentum as it is in a low-growth trend in a situation where the economic recovery is very slow.
] It is a time to be careful when investing as there is a possibility that you may incur small losses.
(Video coverage: Choi Jun-shik, video editing: Kim Byeong-jik)Keywords: