South Koreans' combined purchase of the Japanese currency at local banks jumped nearly fivefold in May from a year earlier, data showed Sunday, as more people took advantage of a weaker yen.
The amount of Japanese currency sold at the country's four major banks came to 30.16 billion yen (US$213 million) in May, soaring from 6.28 billion yen tallied a year earlier, according to the market data.
The increase apparently came as more people took advantage of the weak yen in recent weeks, which fell to an eight-year low against the won. On Friday, the Korean won closed at 903.82 won against 100 yen, marking the highest level since June 2015, when it traded at 905.4 won.
Source: Yonhap News Agency