BRI NEWS S.Korea's foreign currency deposits fall in July on strong USD


S.Korea's foreign currency deposits fall in July on strong USD


23:06, August 21, 2019


Photo: VCG

SEOUL, Aug. 19 (Xinhua) -- Foreign currency deposits in South Korea fell in July, the first reduction in three months, as the strong U.S. dollar led depositors to sell the U.S. currency, central bank data showed Monday.

Deposits, denominated in foreign currencies, amounted to 69.67 billion U.S. dollars in July, down 0.71 billion dollars from the previous month, according to the Bank of Korea (BOK).

It was the first decline in three months as foreign currency depositors sold the dollar amid the greenback's ascent versus the local currency.

The won/dollar exchange rate rose to 1,183.1 won per dollar as of the end of July from 1,154.7 won tallied a month earlier.

The dollar-denominated deposit reduced 0.3 billion dollars over the month to 59.6 billion dollars as of end-July.

The Japanese yen deposit shrank 0.17 billion dollars to 3.99 billion dollars, and the euro deposit dipped 0.07 billion dollars to 3.32 billion dollars.

Deposit denominated in the Chinese yuan was 1.27 billion dollars as of end-July, down 0.08 billion dollars from a month ago. 

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