Foreign currency deposits snap 5-month fall in June

Foreign currency deposits rose in June to end a fifth straight month of decline as companies saved more U.S. dollar-denominated currency for import settlements and overseas investments, central bank data showed Friday. Residents' outstanding foreign currency-denominated deposits reached US$90.57 billion at end-June, up $1.61 billion from the previous month, according to the data from the Bank of Korea. Residents include local citizens, foreigners who have stayed in South Korea for more than six months and foreign companies. The data excludes interbank foreign currency deposits. By currency, dollar-denominated deposits rose by $1.26 billion to $73.47 billion, and Japanese yen-denominated deposits rose by $600 million to $10.13 billion last month. Euro-denominated deposits also rose by $100 million to $4.57 billion, and Chinese yuan-denominated deposits increased by $90 million to $1.18 billion, according to the data. Corporate deposits had come to $75.48 billion as of June, up $1.53 billion from the prev ious month, with individual holdings rising by $80 million to $15.09 billion. Source: Yonhap News Agency