Shinhan Bank said on Sunday it will run a "Foreign Currency Change-Up Deposit 90 percent preferential exchange rate" event for individual and sole proprietor customers from Jan. 26 to Feb. 25. It also said it will offer an additional 0.1 percentage point preferential interest rate if customers who exchange currency open a won term deposit.

The Foreign Currency Change-Up Deposit is a foreign-currency demand deposit account that allows free deposits and withdrawals in 21 foreign currencies.

The event offers a 90 percent preferential exchange rate, with no limit on the number of transactions, for all conversions of U.S. dollars (USD) held in the Foreign Currency Change-Up Deposit into won through the Shinhan SOL Bank and Shinhan Super SOL apps.

It will also offer an additional 0.1 percentage point preferential interest rate to the first 10,000 customers who use funds converted from U.S. dollars into won to open a Shinhan MyPlus term deposit.

A Shinhan Bank official said, "We prepared this event to provide greater benefits to customers using the 'Foreign Currency Change-Up Deposit,' Shinhan Bank's flagship foreign-currency demand deposit account." The official added, "We plan to continue preparing various foreign-currency-related customer support programmes so that we can contribute to easing exchange-rate volatility and stabilising the market in line with the direction of government policy."