Xinhua
22 Jun 2022, 18:30 GMT+10
SEOUL, June 22 (Xinhua) -- South Korea's foreign currency deposit rebounded last month as exporters delayed the exchange of export proceeds on rising expectations for the strong U.S. dollar, central bank data showed Wednesday.
Deposit, denominated in foreign currencies, amounted to 89.17 billion U.S. dollars at the end of May, up 2.18 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It marked the first rebound in three months, after dwindling by 5.43 billion dollars in March and 5.72 billion dollars in April, respectively.
Local exporters refrained from exchanging export proceeds amid the strong dollar trend, caused by higher interest rates in the United States.
Foreign currency deposit, held by companies, gained 2.26 billion dollars to 73.91 billion dollars in the cited month, while the individuals-possessed deposit fell 0.08 billion dollars to 15.26 billion dollars.
The U.S. dollar deposit jumped 2.17 billion dollars to 75.35 billion dollars, and the euro deposit gained 0.12 billion dollars to 5.13 billion dollars last month.
Get a daily dose of North Korea Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to North Korea Times.
More InformationLONDON, England: UK Prime Minister Boris Johnson said this week that in order to move millions of tonnes of grain ...
YANGON, Myanmar: Myanmar's military authorities have transferred deposed leader Aung San Suu Kyi to a prison in the capital Naypyitaw ...
MALDIVES, Male: Police used tear gas and pepper spray this week to control a crowd who disrupted a yoga event ...
SEOUL, South Korea: After a first test launch failed last year, this week officials said South Korea's second test launch ...
WASHINGTON D.C.: Bipartisan legislation aimed at lowering U.S. insulin costs will be put to a vote on the Senate floor ...
MOSCOW, Russia: The UK newspaper, the Telegraph, has been blocked in Russia, following a request from the Russian prosecutor-general.The TASS ...
SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...
TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...
NEW YORK CITY, New York: Electric vehicle (EV) sales could reach 33 percent globally by 2028, and 54 percent by ...
BERLIN, Germany: To prevent large increases in food prices, officials from G7 countries, including Germany and the UK, will push ...
WASHINGTON D.C.: The U.S. Food and Drug Administration (FDA) is preparing to order Juul Labs to stop selling its e-cigarettes ...
WASHINGTON D.C.: As average home prices surged to a record high, reaching the $400,000 mark for the first time, and ...