20.7 C
Tokyo
Friday, March 29, 2024
HomeLatestS. Korea's overseas foreign money deposit drops in February

S. Korea's overseas foreign money deposit drops in February

SEOUL, March 22 (Xinhua) — South Korea’s overseas foreign money deposit logged the quickest month-to-month fall in over 10 years in February resulting from a pointy drop within the U.S. dollar deposit, central financial institution knowledge confirmed Wednesday.

The deposit, denominated in foreign exchange, got here in at 97.52 billion U.S. {dollars} on the finish of February, down by 11.73 billion {dollars} from a month earlier, in keeping with the Bank of Korea (BOK).

It marked the very best discount since June 2012 as corporations withdrew the U.S. dollar fund from banks for abroad funding and import settlement.

The deposit, denominated within the U.S. dollar, tumbled by 8.19 billion {dollars} from a month earlier to 84.15 billion {dollars} on the finish of February.

The Japanese yen and the euro deposits shrank to six.13 billion {dollars} and 4.55 billion {dollars}, respectively, and the Chinese yuan deposit slipped to 1.35 billion {dollars} within the cited month.

Foreign foreign money deposit, owned by corporations, dipped by 11.33 billion {dollars} to 82.95 billion {dollars} final month, whereas the individuals-possessed deposit shed by 0.4 billion {dollars} to 14.57 billion {dollars}.

Source

Latest