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Biz News Korea(Eng)
Korean’ foreign currency deposits surge by record $10 bn in Oct
- Collected
- 2017.11.16
- Distributed
- 2017.11.17
- Source
- Go Direct
According to data released by the Bank of Korea (BOK) on Thursday, Korean nationals held $73.3 billion in foreign currency accounts as of the end of October, refreshing the previous record of $70.5 billion at the end of March this year. It was up $9.6 billion from a month earlier, the biggest monthly gain since record-keeping began. The previous highest was $7.3 billion in April 2014.
Outstanding foreign currency deposits shrank in the previous two months as concerns on geopolitical risks from North Korea’s missile and nuclear provocations weakened the won.
The dollar weakened in October from September, which made companies hold onto dollars for the time being.
Dollar-denominated savings increased $7.8 billion from the previous month to $62.5 billion. The yen deposits reached $5 billion, up $970 million, and the euro deposits amounted to $3.1 billion, up $680 million over the same period. Deposits held in the yuan decreased $30 million to $1 billion.
By Kim In-oh and Choi Mira
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]