Xinhua
24 May 2023, 09:00 GMT+10
SEOUL, May 24 (Xinhua) -- South Korea's foreign currency deposit fell for the fourth consecutive month last month due to a sharp decline in the U.S. dollar deposit, central bank data showed on Wednesday.
The deposit, denominated in foreign currencies, amounted to 91.39 billion U.S. dollars at the end of April, down 6.1 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It came as local companies withdrew foreign currencies from banks for import settlement payments and overseas investment.
The deposit, denominated in the U.S. dollar, dropped 5.13 billion dollars from a month earlier to 79.2 billion dollars at the end of April.
The Japanese yen and the euro deposits shrank to 5.32 billion dollars and 4.45 billion dollars each, and the Chinese yuan deposit slipped to 1.23 billion dollars.
Foreign currency deposit, owned by companies, dipped 5.41 billion dollars to 77.54 billion dollars in the cited month, while the individuals-possessed deposit reduced 0.69 billion dollars to 13.85 billion dollars.
Get a daily dose of Central Coast News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Central Coast News.
More InformationNEW YORK, New York - U.S. stocks were weaker Wednesday, following Tuesday's heady gains when the Dow Jones jumped 741 points. Bond...
SAO PAULO, Brazil: Amid a surge in electric vehicle (EV) adoption and growing competition in Brazil, Chinese automaker GAC has officially...
CHICAGO, Illinois: McDonald's is closing its experimental beverage spinoff, CosMc's, less than two years after launching the standalone...
BEIJING, China: China's Lenovo reported a steep 64 percent drop in fourth-quarter profit, falling significantly short of analyst expectations...
NEW YORK, New York - Strong economic data jump-started U.S. stocks and the dollar Tuesday, a welcome reprieve after weeks of pressure...
NEW YORK CITY, New York: This week, the U.S. Federal Trade Commission (FTC) dropped its lawsuit against PepsiCo, which had accused...
WASHINGTON, DC - U.S. President Donald Trump on Monday said he believed God was behind his election loss in 2020, even though he has...
DEARBORN, Michigan: Ford Motor Company has filed a lawsuit against several California lawyers and law firms, accusing them of cheating...
WASHINGTON, D.C.: The U.S. Army plans to change the records of transgender soldiers to list only their sex at birth, according to a...
London [UK], May 28 (ANI): A combined Great Britain (GB) cricket team, featuring men's and women's players from England, Scotland,...
The decline of American influence in Africa is a long-term trend that largely does not depend on the administration in Washington ...
New Delhi [India], May 28 (ANI): Congress MP Pramod Tiwari on Wednesday hit back at BJP MP Nishikant Dubey over his remarks on former...