South Korea’s foreign currency deposit fell last month on corporate overseas investment and individuals’ sale of the U.S. dollar fund amid the strong dollar trend, central bank data showed Monday.
Foreign currency deposit came in at 93.17 billion U.S. dollars at the end of January, down 4.1 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It kept a downward trend for the second straight month as companies withdrew foreign currencies to pay for import while increasing overseas investment.
Individuals sold the dollar fund amid the dollar’s ascent to the local currency.—Xinhua
