S Korea’s foreign currency deposits keep rising for 3 months | 2018-10-21 | daily-sun.com

S Korea’s foreign currency deposits keep rising for 3 months

    21 October, 2018 12:00 AM printer

SEOUL: Foreign currency deposits in South Korea kept rising for three months to September as the local currency's ascent to the U.S. dollar discouraged deposit holders from selling the dollar funds, central bank data showed Friday.

Deposits, denominated in foreign currencies, reached 73.63 billion U.S. dollars as of end-September, up 2.32 billion dollars from a month earlier, according to the Bank of Korea (BOK), reports Xinhua.

The foreign currency deposits continued to rise for three months amid the decline of the won/dollar exchange rate, which fell to 1,109.3 won per dollar as of end-September from 1,112.9 won tallied a month earlier.


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