SEOUL, Feb 6: South Korea’s foreign exchange bank deposits as a whole rose in January, central bank data showed on Friday, with US dollar deposits climbing considerably while yuan holdings fell.
The central bank said the decline in yuan holdings was due o accounts not being rolled over on maturity as depositors decided against re-investing in the Chinese currency. Deposits denominated in yuan dropped $0.64 billion last month to $18.73 billion, the lowest level since July last year. Dollar deposits rose $2.27 billion in January to $38.27 billion, the Bank of Korea said.
Corporate foreign exchange deposits rose by $2.01 billion to $57.22 billion, and privately-held deposits edged up by $0.03 billion to $5.93 billion in January. Total foreign exchange deposits rose $2.04 billion to $63.15 billion at end-January.
(AGENCIES)
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