Xinhua
24 May 2023, 09:00 GMT+10
SEOUL, May 24 (Xinhua) -- South Korea's foreign currency deposit fell for the fourth consecutive month last month due to a sharp decline in the U.S. dollar deposit, central bank data showed on Wednesday.
The deposit, denominated in foreign currencies, amounted to 91.39 billion U.S. dollars at the end of April, down 6.1 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It came as local companies withdrew foreign currencies from banks for import settlement payments and overseas investment.
The deposit, denominated in the U.S. dollar, dropped 5.13 billion dollars from a month earlier to 79.2 billion dollars at the end of April.
The Japanese yen and the euro deposits shrank to 5.32 billion dollars and 4.45 billion dollars each, and the Chinese yuan deposit slipped to 1.23 billion dollars.
Foreign currency deposit, owned by companies, dipped 5.41 billion dollars to 77.54 billion dollars in the cited month, while the individuals-possessed deposit reduced 0.69 billion dollars to 13.85 billion dollars.
Get a daily dose of Shanghai Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Shanghai Sun.
More InformationDHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
WASHINGTON, D.C.: The U.S. government has granted GE Aerospace permission to resume jet engine shipments to China's COMAC, a person...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
The IPO boom is breathing new life into Hong Kong's capital market, not only helping companies tap international opportunities, but...
New Delhi [India], July 8 (ANI): Karnataka Deputy Chief Minister DK Shivakumar, who also handles the state's Irrigation portfolio,...