Foreign currency deposits at banks in South Korea dropped sharply in May from a month earlier.

According to data by the Bank of Korea released on Monday, the total number of foreign currency-dominated accounts held by local residents tallied 56-point-85 billion dollars as of late May, down five-point-19 billion dollars on-month. The previous record was a four-point-92 billion dollar decrease in September 2014.

The most recent on-month fall marks the first decline in three months and the biggest on-month decline since the central bank began compiling related data.

Foreign currency deposits include those held by domestic citizens, foreign citizens who have resided in South Korea for at least six months and foreign firms holding foreign currency in local banks.

Dollar-denominated deposits came to 46-point-nine billion dollars, plummeting by four-point-78 billion dollars or nine-point-two percent from April.

Yuan-denominated deposits and yen-denominated deposits also fell by 850 million dollars and 190 million dollars, respectively.

On the contrary, deposits denominated in euros rose by 540 million dollars on-month to three-point-63 billion dollars.