HomeLatestS. Korea's overseas forex deposit falls in August

S. Korea’s overseas forex deposit falls in August

SEOUL, Sept. 22 (Xinhua) — South Korea’s overseas forex deposit fell final month as a consequence of greater demand for import settlement and abroad funding, central financial institution information confirmed Friday.

The deposit, denominated in foreign exchange, stood at 99.1 billion U.S. {dollars} on the finish of August, down 5.9 billion {dollars} from a month earlier, in keeping with the Bank of Korea (BOK).

It marked the primary slide in 4 months as greater world commodity costs elevated demand for import settlement amid the expanded abroad funding.

The deposit, denominated within the U.S. dollar, tumbled 4.82 billion {dollars} from a month earlier to 83.04 billion {dollars} on the finish of August.

The Japanese yen and the euro deposits retreated to eight.28 billion {dollars} and 5.23 billion {dollars}, respectively.

The Chinese yuan deposit got here to 1.24 billion {dollars} on the finish of August, down 0.14 billion {dollars} from a month earlier.

Foreign forex deposits, owned by firms, dipped 5.24 billion {dollars} to 84.44 billion {dollars} within the cited month, whereas the individuals-possessed deposit shrank 0.66 billion {dollars} to 14.66 billion {dollars}.