South Korea's foreign currency deposits declined $3.66Bn to $91.35Bn in April due to a stronger US dollar.
South Korea's foreign currency deposits declined for a fourth consecutive month in April, falling $3.66Bn to $91.35Bn, according to Bank of Korea data. The strong US dollar is the primary cause, with USD-denominated deposits decreasing to $74.33Bn. Deposits in Japanese yen and euro also fell, while the won-dollar exchange rate increased to an average of 1,367.8 won per dollar in April.
May 24, 2024
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