July 14, 2017 / 3:00 AM / 2 months ago

S.Korea foreign currency deposits post largest decline in June

SEOUL, July 14 (Reuters) - South Korea’s foreign exchange deposits posted their largest ever decline in June, following a slight rise in May, central bank data showed on Friday, as businesses sold the dollar after its recent gains against the won.

The Bank of Korea said total foreign exchange deposits fell by $6.33 billion to $63.61 billion as of end-June from $69.94 billion in May.

The dollar strengthened 2.2 percent against the South Korean won in June.

Dollar deposits declined by $5.39 billion to $54.19 billion, while deposits in the yen also inched down $380 million to $4 billion, the data showed.

Total deposits held by companies decreased $5.73 billion to $51.57 billion according to the data. (Reporting by Dahee Kim; Editing by Sam Holmes)

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