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Biz News Korea(Eng)
South Korean individual greenback holding near $10 bn
- Collected
- 2016.10.18
- Distributed
- 2016.10.19
- Source
- Go Direct
According to monthly data released by the Bank of Korea (BOK) Monday, total deposits in non-Korean currency accounts came to $66.5 billion as of end-September, down $840 million from a month ago. The deposits comprise of those held by Korean nationals as well as non-Korean individuals and companies that have kept foreign currencies in local accounts for more than six months.
The decline is mainly due to withdrawals in U.S. dollar and Chinese yuan accounts held by companies.
Balance in U.S. dollar accounts decreased by $400 million from a month ago to $56.52 billion. Of them, greenback holding of companies shrank by $1.17 billion to $46.84 billion. In contrast, U.S. dollar holdings by Korean individuals reached a record high of $9.68 billion, surging $770 million from last month. During the July-September period, individual holdings in U.S. dollar account ballooned by $2.67 billion.
Deposits in the Chinese currency shrank $300 million over a month $1.6 billion worth.
By Boo Jang-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]