Korea‘s 50,000-won note balance tops record W70tr

By 박윤아

Published : Aug. 18, 2016 - 13:33

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[THE INVESTOR] The volume of 50,000-won (US$45.15) notes in circulation in South Korea has exceeded 70 trillion won for the first time, the central bank’s data showed on Aug.18.

The outstanding balance of the county’s highest-denominated banknote stood at 70.43 trillion won as of the end of July, up 0.8 percent from a month earlier, according to the Bank of Korea.

50,000-won notes

Since the bill was introduced in June 2009, its supply has been on a rapid rise. The amount totaled 60 trillion won in September 2015. The volume excludes notes returned to the BOK after being printed and circulated. The outstanding balance of the entire currency in Korea stood at 91.92 trillion won in July, 76.6 percent of which was 50,000-won notes.

On the other hand, the volume of 10,000-won notes in circulation fell 1.3 percent on-month to 16.23 trillion won last month. Those of 5,000-won and 1,000-won notes also dropped 0.4 percent and 0.1 percent, respectively.

(theinvestor@heraldcorp.com)

Korea‘s 50,000-won note balance tops record W70tr

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