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S.Korea Sept FX bank deposits fall after three months of rises
October 17, 2016 / 3:02 AM / in a year

S.Korea Sept FX bank deposits fall after three months of rises

SEOUL, Oct 17 (Reuters) - South Korea’s foreign exchange bank deposits declined in September after rising for three straight months, central bank data showed on Monday, on a fall in dollar-denominated deposits.

The Bank of Korea said the total foreign exchange deposits fell to $66.50 billion in September, from $67.34 billion in August, which was a 16-month high.

Dollar deposits in September slipped to $56.52 billion from $56.92 billion as conglomerates withdrew cash to pay back debt, the statement said.

Foreign deposits held by corporates fell to $55.30 billion last month from $56.99 billion in August, while those held by individuals rose to $11.20 billion from $10.35 billion over the same period.

Deposits denominated in the dollar accounted for 85 percent of all deposits in September. (Reporting by Christine Kim; Editing by Sherry Jacob-Phillips)

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