SEOUL, March 7 (Yonhap) – Foreign currency deposits in South Korean banks rose to a record high in February on increased export earnings, the central bank said Friday.
Outstanding foreign currency-denominated deposits held by residents reached US$52.68 billion as of end-February, up $3.42 billion from the previous month, according to the Bank of Korea.
Residents include local citizens, foreigners staying here for more than six months, and foreign companies. The data excludes inter-bank foreign currency deposits.
The dollar-denominated deposits rose by US$2.99 billion on-month to US$39.68 billion, and the yuan-denominated deposits gained US$600 million to US$7.62 billion.
Companies’ holdings of FX deposits advanced US$3.36 billion to US$47.45 billion, while such deposits held by individuals rose US$600 million to US$5.23 billion, it added.