South Korea foreign currency bank deposits slip in May

19 Jun, 2016

South Korea's foreign currency bank deposits at end-May fell to their lowest level in three months, central bank data showed on Monday, falling by $5.19 billion to $56.85 billion. The Bank of Korea said the decline was mainly due to state-run businesses withdrawing dollars to redeem maturing offshore bond debt. In April, foreign exchange deposits had climbed to their highest in five months. Dollar deposits declined by $4.78 billion to stand at $46.90 billion as of the end of May, a three-month low. It accounted for 82.5 percent of all foreign currency bank deposits.

Read Comments