Foreign currency deposit accounts skyrocket

Foreign currency deposit (FCD) accounts have grown rapidly, driven primarily by individuals, especially younger depositors seeking higher returns.

- SOMRUEDI BANCHONGDUANG

As of April 2025, the total number of FCD accounts in the banking industry tallied 4.33 million, rising 71.6% year-to-date and 433% year-on-year, according to Kasikorn Research Center (K-Research).

In terms of outstanding deposits, these accounts had 25.5 billion baht, rising 4.5% year-to-date and 15.5% year-on-year.

The significant growth in FCD accounts was attributed to individuals, who held 4.25 million accounts as of April, an increase of 73.6% year-to-date and 467% year-on-year.

Outstanding deposits held by individuals amounted to 2.46 billion baht, rising 15.3% year-to-date and 105% year-on-year.