The amount of foreign currency deposits held by residents in South Korea fell to the lowest level in 22 months as Chinese yuan savings lost popularity and as U.S. dollar deposits shrank.
 
The Bank of Korea(BOK) announced on Wednesday that the amount of foreign currency deposits held by residents stood at roughly 55-point-six billion U.S. dollars as of the end of January, or down nearly two-point-nine billion dollars from the end of last year.
 
The figure was the lowest to be posted since March 2014 when foreign currency deposits amounted to some 51 billion dollars.
 
Foreign currency deposits by residents refer to those deposited by South Koreans, foreigners who have resided in South Korea for more than six months and foreign companies that have advanced into the country.
 
Such deposits have witnessed a decline since October.