Corporate dollar deposits at major Korean banks have risen to a record high this month, as the won-dollar exchange rate fell to its lowest level in almost two years, industry data showed Sunday. The outstanding dollar deposits at five major local banks stood at $76.98 billion as of Thursday, the highest level since banks began compiling such data in May 2021. The five banks are KB Kookmin, Shinhan, Hana, Woori and NH NongHyup. The Korean won was quoted at 1,345 won per dollar as of 10:30 p.m. Friday, the highest level since Oct. 8, 2024, when the won traded at 1,344.6 won against the greenback. The won-dollar exchange rate has risen by 254.2 won from an all-time low of 1,588.2 won per dollar recorded on July 1. "Dollar deposits are growing as export proceeds come in, while exporters delay exchanging them to the Korean won. Import companies are also actively buying the U.S. dollar in installments," Baek Seok-hyun, an economist at Shinhan Bank's S&T Center, said. Demand to exchange the won into the dollar is also growing. A total of $60 million was exchanged from the Korean won to the U.S .do