S.Korea’s foreign currency deposit hits record high in December
Source: Xinhua | 2021-01-19
South Korea’s foreign currency deposit hit a new record high in December owing to solid demand from individuals, central bank data showed Monday.
Outstanding foreign currency deposit, owned by residents, reached a fresh high of 94.2 billion U.S. dollars as of the end of December, up 0.59 billion dollars from a month earlier, according to the Bank of Korea (BOK).
The deposit kept a record-breaking trend for the third consecutive month. The residents refer to locals and domestic companies as well as foreigners and foreign firms that stayed here at least six months.
The foreign currency deposit, possessed by companies, inched down to 74.39 billion dollars, but the deposit owned by individuals expanded 0.79 billion dollars to 19.81 billion dollars at the end of last month.
The U.S. dollar-denominated deposit added 0.18 billion dollars to 80.04 billion dollars.
Deposits, denominated in the euro and the Japanese yen, grew to 4.71 billion dollars and 5.44 billion dollars each.
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