Xinhua
22 Mar 2023, 09:14 GMT+10
SEOUL, March 22 (Xinhua) -- South Korea's foreign currency deposit logged the fastest monthly fall in over 10 years in February due to a sharp drop in the U.S. dollar deposit, central bank data showed Wednesday.
The deposit, denominated in foreign currencies, came in at 97.52 billion U.S. dollars at the end of February, down by 11.73 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It marked the highest reduction since June 2012 as companies withdrew the U.S. dollar fund from banks for overseas investment and import settlement.
The deposit, denominated in the U.S. dollar, tumbled by 8.19 billion dollars from a month earlier to 84.15 billion dollars at the end of February.
The Japanese yen and the euro deposits shrank to 6.13 billion dollars and 4.55 billion dollars, respectively, and the Chinese yuan deposit slipped to 1.35 billion dollars in the cited month.
Foreign currency deposit, owned by companies, dipped by 11.33 billion dollars to 82.95 billion dollars last month, while the individuals-possessed deposit shed by 0.4 billion dollars to 14.57 billion dollars.
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 InformationMOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...