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HomeLatestS.Korea's overseas forex deposit falls in August

S.Korea's overseas forex deposit falls in August

SEOUL, Sept. 20 (Xinhua) — South Korea’s overseas forex deposit fell final month as firms withdrew the U.S. dollar fund for import prices, central financial institution knowledge confirmed Tuesday.

Deposit, denominated in foreign currency echange, totaled 88.27 billion {dollars} on the finish of August, down 2.11 billion {dollars} from a month earlier, in keeping with the Bank of Korea (BOK).

It got here as native firms elevated the withdrawal of the buck to import uncooked supplies, of which value soared lately amid geopolitical dangers in Europe.

Deposit, denominated in dollar, dwindled 1.57 billion {dollars} from a month earlier to 74.9 billion {dollars} on the finish of August, and the euro deposit shrank 0.46 billion {dollars} to 4.74 billion {dollars}.

The Chinese yuan deposit fell to 1.26 billion {dollars}, however the Japanese yen deposit rose to five.74 billion {dollars}.

Foreign forex deposit, owned by firms, declined 1.49 billion {dollars} to 74.41 billion {dollars} final month, and the individuals-possessed deposit slipped 0.62 billion {dollars} to 13.86 billion {dollars}.

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