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S.Korea Feb foreign exchange bank deposits at highest in 2-1/2 yrs
March 15, 2017 / 3:01 AM / 6 months ago

S.Korea Feb foreign exchange bank deposits at highest in 2-1/2 yrs

SEOUL, March 15 (Reuters) - South Korea’s foreign exchange deposits in February rose for a second month to their highest level in two and a half years, central bank data showed on Wednesday.

Foreign exchange bank deposits stood at $67.94 billion at the end of February, the Bank of Korea said, the biggest amount since end-August 2014.

At the end of January, deposits were $64.65 billion.

The deposits rose mainly on a gain in dollar deposits as exporters and importers stowed more in their accounts for trade settlements, the bank said.

In February, dollar deposits rose $8.54 billion to $57.98 billion to account for 85.4 percent of total foreign exchange bank deposits.

Total deposits held by companies added $2.72 billion to $56.62 billion in February and those held by private entities inched up $570 million to $11.32 billion over the same period, the data showed. (Reporting by Christine Kim; Editing by Richard Borsuk)

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