emirates7 - Foreign currency deposits in South Korea rose for the second straight month in June, mainly due to companies depositing funds from business transactions and temporarily parking overseas investment capital, according to central bank data released Wednesday.
The Bank of Korea (BOK) reported that as of the end of June, foreign currency-denominated deposits held by residents totaled US$106.44 billion, marking an increase of $5.08 billion from the previous month.
As reported by Yonhap News Agency, this follows a $5.1 billion rise in May—the first monthly increase since January.
The term “residents” covers South Korean nationals, foreigners who have lived in the country for over six months, and foreign firms. The figures do not include interbank foreign currency deposits.
The Bank of Korea (BOK) reported that as of the end of June, foreign currency-denominated deposits held by residents totaled US$106.44 billion, marking an increase of $5.08 billion from the previous month.
As reported by Yonhap News Agency, this follows a $5.1 billion rise in May—the first monthly increase since January.
The term “residents” covers South Korean nationals, foreigners who have lived in the country for over six months, and foreign firms. The figures do not include interbank foreign currency deposits.