SEOUL (XINHUA) – South Korea’s foreign currency deposit rose for the fourth successive month due to solid demand for the United States (US) dollar deposit, central bank data showed yesterday.
The deposit, denominated in foreign currencies, grew USD3.66 billion from a month earlier to USD104.07 billion at the end of September, continuing to expand since June, according to the Bank of Korea (BOK).
The consecutive growth was attributed to higher US currency deposit, affected by the depositing of export proceeds and the greenback bonds issued by public institutions. The deposit, denominated in the US dollar, gained USD2.27 billion from a month earlier to USD85.84 billion at the end of September.
