S. Korea's foreign currency deposits reach record-high
Foreign currency deposits hit an all-time high in South Korea, increasing by US$7.87 billion to US$93.32 billion last month, surpassing US$90 billion for the first time.
The US dollar deposits went up to US$6.85 billion to US$80.32 billion while euro deposits increased by a value of US$540 million to US$4.4 billion.
The demand for foreign currency increased from both enterprises and individual investors.
Those of enterprises surged by US$7.2 billion to US$74.73 billion, while those of individuals jumped US$670 million to US$18.59 billion.
The central bank attributed the increase to recovering exports and imports, prompting enterprises to deposit more money for settlement purposes.
Additionally, securities companies increased their short-term funds.