SEOUL, June 26 (Xinhua) -- South Korea's foreign currency deposits grew for a second straight month in May due to strong demand for the U.S. dollar, central bank data showed Friday.

The won (R) and U.S. dollar banknotes are pictured in Seoul, South Korea, Aug. 22, 2022. (Photo: Xinhua)

The deposits, denominated in foreign currencies, rose 1.57 billion U.S. dollars from a month earlier to 112.25 billion dollars at the end of May, after expanding 8.51 billion dollars in the previous month, according to the Bank of Korea (BOK).

Demand increased for the dollar deposit on the back of large companies receiving export payments and an increase in maintenance margin requirements for derivative transactions.

The dollar-denominated deposit mounted 2.24 billion dollars to 95.56 billion dollars, but the Japanese yen deposit reduced 0.69 billion dollars to 7.52 billion dollars last month.

Foreign currency deposits, possessed by companies, climbed 2.54 billion dollars to 97.42 billion dollars in the cited month, but the individual-owned deposits shrank 0.96 billion dollars to 14.83 billion dollars.