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SEOUL, Aug. 19 (Xinhua) — South Korea’s foreign currency deposit fell last month as individuals offloaded the U.S. dollar fund amid the strong dollar trend, central bank data showed Thursday.
Deposit, denominated in foreign currencies, amounted to 92.13 billion U.S. dollars as of the end of July, down 0.91 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It continued to slide for the third consecutive month as the strong dollar prompted individuals to lock in a profit by selling the dollar fund.
The won/dollar exchange rate stood at 1,150.3 won per dollar at the end of July, up 24.2 won from a month ago.
Foreign currency deposit, owned by companies, shrank 0.29 billion dollars from three months earlier to 72.92 billion dollars as of end-July, while the individuals-possessed deposit declined 0.62 billion dollars to 19.21 billion dollars.
The dollar deposit diminished 0.78 billion dollars to 79.68 billion dollars last month, and the Japanese yen deposit slipped 0.38 billion dollars to 5.04 billion dollars.
Deposits, denominated in the Chinese yuan and the European single currency, grew to 1.46 billion dollars and 4.13 billion dollars each. Enditem
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