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Dollar-denominated Deposits Exceed 50 Billion Dollars

Written: 2016-05-16 18:32:36Updated: 2016-05-16 18:37:41

Dollar-denominated Deposits Exceed 50 Billion Dollars

Bank deposits in South Korea denominated in U.S. dollars have exceeded the 50-billion-dollar mark for the first time.
 
According to the April readings by the Bank of Korea on domestic accounts denominated in foreign currencies unveiled on Monday, foreign currency-marked accounts tallied 62-point-04 billion dollars as of late April, one-point-47 billion dollars more than in late March.
 
The figures showed that foreign currency-denominated deposits rose for the second straight month after March statistics showed the deposits grew by about seven-point-one billion dollars from February.
 
Foreign currency deposits include those held by domestic citizens, foreign citizens who have resided in Korea for at least six months and foreign firms holding foreign currency in local banks.
 
Deposits marked in U.S. dollars were worth 51-point-68 billion dollars, about three-point-41 billion dollars more than in late March. This marks the first time that foreign currency deposits in dollars have exceeded the 50-billion-dollar mark.
 
 

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