ZCZC
BCN-31
S.KOREA-FOREX
S. Korea’s foreign currency deposits keep rising for 3 months
SEOUL, Oct. 20, 2018 (BSS/Xinhua) – Foreign currency deposits in South
Korea kept rising for three months to September as the local currency’s
ascent to the U.S. dollar discouraged deposit holders from selling the dollar
funds, central bank data showed Friday.
Deposits, denominated in foreign currencies, reached 73.63 billion U.S.
dollars as of end-September, up 2.32 billion dollars from a month earlier,
according to the Bank of Korea (BOK).
The foreign currency deposits continued to rise for three months amid the
decline of the won/dollar exchange rate, which fell to 1,109.3 won per dollar
as of end-September from 1,112.9 won tallied a month earlier.
Deposit holders refrained from selling the dollar funds as they tend to
wait for the strong dollar.
The dollar-denominated deposit increased 1.14 billion dollars over the
month to 61.25 billion dollars at the end of September.
The Chinese yuan deposit rose 220 million dollars to 1.67 billion dollars,
and the Japanese yen deposit added 780 million dollars to 5.34 billion
dollars.
Deposit denominated in the European single currency grew 150 million
dollars to 3.51 billion dollars in the period.
BSS/XINHUA/HR/1402