Foreign currency deposits down for 4th month in April on imports payment

foreign currency-April deposits

Foreign currency deposits down for 4th month in April on imports payment

SEOUL, May 24 (Yonhap) -- Foreign currency deposits fell for a fourth straight month in April on payments for imports and overseas direct investment, central bank data showed Wednesday.

Residents' outstanding foreign currency-denominated deposits reached US$91.39 billion at end-April, down $6.1 billion from the previous month, according to the data from the Bank of Korea.

Residents include local citizens, foreigners staying in South Korea for more than six months and foreign companies. The data excludes interbank foreign currency deposits.

Corporate deposits had come to $77.54 billion as of April, down $5.41 billion from the previous month, with individual holdings dropping by $690 million to $13.85 billion.

Dollar-denominated deposits rose by $5.13 billion to $79.20 billion last month, and euro-denominated deposits increased by $430 million to $4.45 billion, according to the data.

Japanese yen-denominated deposits dropped by $340 million to $5.32 billion over the cited period.

(END)

(C) Yonhap News Agency. All Rights Reserved