S. Korea's foreign currency deposit rebounds in May

Alsharq Tribune-AFP 

South Korea's foreign currency deposit rebounded in four months due to strong demand for the U.S. currency, central bank data showed Monday.

The deposit, denominated in foreign currencies, grew 5.10 billion U.S. dollars from a month earlier to 101.36 billion dollars at the end of May, after sliding for the past three months, according to the Bank of Korea (BOK).

The turnaround was attributed to higher demand for the U.S. and Japanese currency deposits.

The deposit, denominated in the U.S. dollar, swelled 4.54 billion dollars from a month earlier to 85.54 billion dollars at the end of May.

The Japanese yen deposit increased 0.56 billion dollars to 8.43 billion dollars, but the euro deposit was unchanged at 5.09 billion dollars.

Foreign currency deposit, owned by companies, gained 4.60 billion dollars to 87.01 billion dollars in the cited month, while the individuals-possessed deposit climbed 0.50 billion dollars to 14.35 billion dollars.