Foreign currency deposits rise in February

Foreign currency deposits at banks in Korea rose in February, mainly due to a gain in corporate holdings of dollar deposits, central bank data showed Tuesday.

Outstanding foreign currency-denominated deposits held by residents amounted to $90.03 billion as of end-February, up $650 million from the previous month, according to the data from the Bank of Korea.

Residents include local citizens, foreigners staying here for more than six months and foreign companies. The data excludes interbank foreign currency deposits.

The dollar-denominated deposits rose by $760 million on-month to $76.92 billion last month. Euro deposits fell by $480 million to $4.34 billion.

Corporate deposits rose by $820 million to $70.5 billion, and deposits held by individuals fell by $170 million on-month to $19.53 billion, according to the data.

YONHAP