Foreign currency deposits held by banks operating in South Korea rose in July from a month earlier as exporters increased their deposits of dollar-denominated earnings, central bank data showed Thursday.
Outstanding foreign currency deposits held by local lenders, domestic and foreign, reached $69.11 billion in July, up $5.5 billion from a month earlier, the Bank of Korea said in a statement.
Broken down, foreign currency deposits held by domestic banks came to $59.38 billion in July, up from $54.44 billion in June. The deposits by foreign lenders stood at $9.73 billion, up from $9.17 billion during the same period.
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(Yonhap) |
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 hike mainly to an increase in U.S. dollar deposits by exporters.
By currency, dollar deposits rose to $59.03 billion in July from $54.19 billion in June. Euro deposits came to $2.61 billion in July from $2.58 billion in June. Yen deposits were valued at $4.47 billion in July from $4 billion in June, the data showed.
By holder, companies held $56.54 billion in foreign currency deposits in July, up from $51.57 billion a month earlier. Deposits held by individuals came to $12.57 billion in July from $12.04 billion in June, it said. (Yonhap)
