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Foreign currency deposits at banks in South Korea fell in July from the previous month as individuals withdrew their FX holdings, central bank data showed Thursday.
Outstanding foreign currency-denominated deposits held by residents amounted to $92.13 billion as of end-July, down $910 million from June, according to the Bank of Korea (BOK).
Residents include local citizens, foreigners staying here for more than six months and foreign companies. The data excludes interbank foreign currency deposits.
The BOK said the fall came as local residents withdrew US dollar-denominated holdings.
The dollar-denominated deposits fell $780 million on-month to $79.68 billion, and the euro-denominated deposits declined $30 million to $4.13 billion.
Companies' holdings of FX deposits reached $72.92 billion as of end-July, down $290 million from the previous month. Deposits held by individuals also declined $620 million to $19.21 billion, the BOK said. (Yonhap)
Outstanding foreign currency-denominated deposits held by residents amounted to $92.13 billion as of end-July, down $910 million from June, according to the Bank of Korea (BOK).
Residents include local citizens, foreigners staying here for more than six months and foreign companies. The data excludes interbank foreign currency deposits.
The BOK said the fall came as local residents withdrew US dollar-denominated holdings.
The dollar-denominated deposits fell $780 million on-month to $79.68 billion, and the euro-denominated deposits declined $30 million to $4.13 billion.
Companies' holdings of FX deposits reached $72.92 billion as of end-July, down $290 million from the previous month. Deposits held by individuals also declined $620 million to $19.21 billion, the BOK said. (Yonhap)
