SEOUL, Dec. 19 (Xinhua) — South Korea’s overseas forex deposit rose for the second consecutive month on robust demand for the U.S. and Japanese currencies, central financial institution information confirmed Tuesday.
The deposit, denominated in foreign exchange, stood at 101.76 billion U.S. {dollars} on the finish of November, up 7.46 billion {dollars} from a month earlier, in keeping with the Bank of Korea (BOK).
The deposit, denominated within the U.S. dollar, grew 5.95 billion {dollars} to 83.83 billion {dollars} as firms deposited their export proceeds.
The Japanese yen deposit superior 1.31 billion {dollars} to 9.92 billion {dollars}, marking the quickest month-to-month improve since related information started to be compiled in 2012.
It was attributed to the yen’s sharp depreciation towards the South Korean forex.
The euro and the Chinese yuan deposits expanded to five.51 billion {dollars} and 1.16 billion {dollars} respectively.
Foreign forex deposits owned by firms gained 6.54 billion {dollars} to 86.24 billion {dollars} within the cited month, whereas the individuals-possessed deposit added 0.92 billion {dollars} to fifteen.52 billion {dollars}.