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S. Korea: foreign currency deposits decline
(MENAFN) South Korea registered during the seventh month of this year a decline in foreign currency deposits that banks held.
This decrease was a slap on three consecutive months of gains in the middle of reinforced U.S. dollar.
On Monday, the Bank of Korea (BOK) confirmed a USD710 million drop in the amount of foreign currency savings to stand at USD69.6 billion in July compared to June.
BOK further revealed that firms sold the U.S. dollar as the greenback gained ground against the Korean won, which ended last month at 1,183.1 won against the U.S. dollar.
This decrease was a slap on three consecutive months of gains in the middle of reinforced U.S. dollar.
On Monday, the Bank of Korea (BOK) confirmed a USD710 million drop in the amount of foreign currency savings to stand at USD69.6 billion in July compared to June.
BOK further revealed that firms sold the U.S. dollar as the greenback gained ground against the Korean won, which ended last month at 1,183.1 won against the U.S. dollar.
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