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South Korea June foreign exchange bank deposits edge down for 2nd mth
July 6, 2015 / 3:00 AM / 2 years ago

South Korea June foreign exchange bank deposits edge down for 2nd mth

SEOUL, July 6 (Reuters) - Foreign exchange bank deposits in South Korea fell for a second month in June, central bank data showed on Monday, as some public institutions dipped into their deposits for payments, including import fees.

Total deposits edged down $80 million to $64.7 billion as of the end of June, the Bank of Korea said in a statement, bringing the overall amount to the lowest since March this year.

Dollar deposits rose $0.6 billion in June to $40.0 billion while those denominated in the yuan fell $0.6 billion to $18.5 billion last month. The central bank attributed the decline in yuan deposits to the maturation of some accounts.

Among all foreign exchange deposits, those held by non-bank financials and private firms rose by $0.6 billion and $0.3 billion in June respectively, but those carried by public institutions fell $1.0 billion.

As of the end of last month, deposits in the dollar accounted for 61.9 percent of all foreign exchange bank deposits, while the yuan accounted for 28.6 percent. (Reporting by Christine Kim; Editing by Shri Navaratnam)

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