SEOUL, October 28 (AJP) — South Korea's resident foreign currency deposits at foreign exchange banks stretched by $14.09 billion in September on burgeoning dollar revenue for the Korean Inc. and bond proceeds ,central bank data showed Wednesday.
The deposits stood at $154.71 billion at the end of September, up from $140.62 billion a month earlier, according to the Bank of Korea (BOK).
Dollar-denominated deposits increased by $12.99 billion to $132.90 billion, accounting for about 86 percent of the total.
The BOK attributed the increase to foreign currency receipts from large companies, inflows of investor deposits at securities firms and proceeds from foreign currency bond issuance by public enterprises.
Corporate foreign currency deposits rose by $13.11 billion to $136.60 billion, while deposits held by individuals increased by $980 million to $18.11 billion.
Dollar deposits held by companies alone climbed by $12.23 billion to $117.87 billion.
Deposits denominated in Japanese yen increased by $550 million to $9.49 billion, partly as the weaker yen boosted demand for travel-related currency exchange.
Euro deposits rose by $370 million to $9.53 billion on foreign currency receipts from current transactions, while yuan deposits edged up by $30 million to $1.27 billion.
Deposits at domestic banks increased by $9.18 billion to $120.04 billion, while those at branches of foreign banks rose by $4.91 billion to $34.67 billion.
Resident foreign currency deposits cover holdings by Korean individuals and companies, foreigners who have lived in the country for at least six months and foreign companies operating in South Korea.
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