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South Korea’s foreign currency deposit rises in October-

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  South Korea s foreign currency deposit rose last month as companies funded US dollars in bank accounts amid the dollar s strong trend central bank data showed on Monday The deposit denominated in foreign currency totaled 97 65 billion US dollars at the end of October 8 15 billion dollars more than the previous month according to the Bank of Korea BOK It occurred when local companies deposited the dollar fund in bank accounts amid the rise of the dollar to the national currency The US dollar denominated deposit rose 7 54 billion from the previous month to 84 8 billion at the end of October and the Japanese yen deposit rose 0 43 billion to 5 71 billion The euro deposit fell 030 million to 4 11 billion but the Chinese yuan deposit rose to 1 23 billion Foreign currency deposit held by companies gained 7 82 billion to 83 38 billion last month while deposit held by individuals added 330 million to 14 27 billion Xinhua
South Korea’s foreign currency deposit rises in October-

South Korea

South Korea‘s foreign currency deposit rose last month as companies funded US dollars in bank accounts amid the dollar’s strong trend, central bank data showed on Monday.

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The deposit, denominated in foreign currency, totaled 97.65 billion US dollars at the end of October, 8.15 billion dollars more than the previous month, according to the Bank of Korea (BOK).

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It occurred when local companies deposited the dollar fund in bank accounts amid the rise of the dollar to the national currency.

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The US dollar-denominated deposit rose $7.54 billion from the previous month to $84.8 billion at the end of October, and the Japanese yen deposit rose $0.43 billion to $5.71 billion.

The euro deposit fell $030 million to $4.11 billion, but the Chinese yuan deposit rose to $1.23 billion.

Foreign currency deposit, held by companies, gained $7.82 billion to $83.38 billion last month, while deposit held by individuals added $330 million to $14.27 billion. ■

(Xinhua)

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