Foreign currency deposits down in March on lower individual savings

foreign currency-March deposits

Foreign currency deposits down in March on lower individual savings

SEOUL, April 27 (Yonhap) -- Foreign currency deposits fell in March on lower individual savings, central bank data showed Thursday.

Residents' outstanding foreign currency-denominated deposits reached US$97.49 billion at end-March, down $30 million from the previous month, according to the data from the Bank of Korea (BOK).

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 came to $82.95 billion as of March, unchanged from the previous month, with individual holdings dropping by $300 million to $14.54 billion.

Dollar-denominated deposits rose by $180 million to $84.33 billion last month, and euro-denominated deposits increased by $330 million to $4.88 billion, according to the data.

Japanese yen-denominated deposits dropped by $470 million to $5.66 billion over the cited period.

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