Renewed Record

 

Foreign currency-denominated deposits at banks in South Korea hit a new high for the second consecutive month in August, due to an increase in deposits in all major currencies.

The Bank of Korea said on Sept. 5 that foreign currency deposits held by local residents reached US$68.6 billion as of the end of August, up US$6.15 billion from the previous month.

Dollar-denominated deposits, which accounted for 61.4 percent of all foreign currency deposits, increased to US$42.09 billion, up US$1.82 billion from the previous month as deposits by importers and exporters rose.

Yuan-denominated deposits continued to increase. In August, they were up by US$3.78 billion to hit a record US$19.97 billion. The portion of Chinese yuan deposits to all foreign currency deposits was 29.1 percent.

Deposits in euros and Japanese yen were US$2.5 billion and US$2.73 billion respectively, said the central bank.

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