S. Korea's foreign currency deposit rises to 92.6 bln USD in August

2021-09-14 13:07

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SEOUL, Sept. 14 (Xinhua) -- South Korea's foreign currency deposit rose last month as local exporters increased the deposit of export proceeds in bank accounts amid the brisk outbound shipment, central bank data showed Tuesday.

Foreign currency deposit by local residents stood at 92.6 billion U.S. dollars as of the end of August, up 0.47 billion dollars from a month earlier, according to the Bank of Korea (BOK).

Local residents refer to locals and local companies as well as foreigners and foreign firms that have stayed here for at least six months.

The foreign currency deposit rebounded in five months as domestic exporters deposited export proceeds in bank accounts.

The country's export soared 34.9 percent in August from a year earlier, continuing to grow for the 10th month since November last year.

Foreign currency deposit, owned by companies, went up 0.74 billion dollars to 73.66 billion dollars last month, but the individuals-possessed deposit declined 0.27 billion dollars to 18.94 billion dollars.

Deposits, denominated in the U.S. dollar and the Chinese yuan, grew to 80.38 billion dollars and 1.54 billion dollars each in the month.

Those in the European single currency and the Japanese yen reduced to 4.0 billion dollars and 4.94 billion dollars respectively.
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