Woori Bank offers 90% preferential exchange rate for converting foreign-currency deposits into won
- Input
- 2026-02-08 13:50:54
- Updated
- 2026-02-08 13:50:54
[Financial News] Woori Bank is offering preferential exchange rate benefits to customers who convert their foreign-currency deposits into South Korean won.
According to the financial sector on the 8th, Woori Bank has been applying a 90% preferential exchange rate since the 6th and will continue until the 5th of next month. The benefit is available to individuals and individual business owners who hold foreign-currency demand deposit accounts and exchange their foreign currency into South Korean won.
With a 90% preferential exchange rate, the bank’s margin on foreign exchange transactions (the spread between the cash selling rate and the base rate) is reduced to about 10% of the usual level. Recently, financial authorities have pressured banks to scale back marketing of foreign-currency deposits in order to strengthen exchange rate stability.
A Woori Bank official said, "As exchange rate volatility has increased recently due to domestic and external factors, we decided to expand the preferential rate to ease the exchange burden on customers holding foreign currency."
Earlier, Shinhan Bank also began applying a 90% preferential exchange rate on foreign-currency deposits converted into South Korean won starting on the 26th of last month.
mj@fnnews.com Reporter Park Moon-su Reporter