Foreign currency deposits at banks in South Korea fell in September from a month earlier as exporters decreased their deposits in U.S. dollars, central bank data showed Wednesday. (Image: Yonhap)
SEOUL, Oct. 25 (Korea Bizwire) — Foreign currency deposits at banks in South Korea fell in September from a month earlier as exporters decreased their deposits in U.S. dollars, central bank data showed Wednesday.
Outstanding foreign currency deposits held by banks here reached US$63.66 billion at the end of September, down $3.48 billion from a month earlier, according to the data compiled by the Bank of Korea (BOK).
Broken down, foreign currency deposits held by domestic banks came to $54.36 billion in September, down from $57.41 billion in August. The deposits at foreign lenders operating here stood at $9.3 billion in September, down from $9.73 billion in August.
Foreign deposits include those held by foreigners who have stayed in South Korea for more than six months, as well as foreign companies operating here.
The BOK attributed the on-month decline to a decrease in corporate greenback deposits.
By currency, deposits in U.S. dollars fell to $54.65 billion in September from $58.33 billion in August. Euro-denominated deposits came to $2.43 billion in September from $2.39 billion in August. Yen deposits were tallied at $4.02 billion in September from $3.75 billion in August, the data showed.
By holder, companies held $52.17 billion in foreign currency deposits in September, down from $55.33 billion a month earlier. Deposits held by individuals came to $11.49 billion in September, down from $11.81 billion tallied in August, it said.
(Yonhap)
