Foreign currency deposits down for 2nd month in February

SEOUL, Foreign currency deposits declined for a second consecutive month in February as companies curtailed overseas investment and trade volume decreased, central bank data showed Tuesday. Residents' outstanding foreign currency-denominated deposits reached US$96.1 billion at end-February, down $1.97 billion from the previous month, following a $5.78 billion decline in January, according to the data from the Bank of Korea. Residents include local citizens, foreigners staying in South Korea for more than six months and foreign companies. The data excludes interbank foreign currency deposits. By currency, dollar-denominated deposits fell by $2.53 billion to $77.87 billion, and Japanese yen-denominated deposits rose by $460 million to $9.86 billion last month. Euro-denominated deposits rose by $18 million to $6.07 billion, and Chinese yuan-denominated deposits fell by $30 million to $1.11 billion, according to the data. Corporate deposits came to $80.75 billion as of February, down $2.12 billion from the previous month, with individual holdings rising by $150 million to $15.38 billion. Source: Yonhap News Agency