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South Korea's foreign currency deposits dropped $1.4 billion in January, mainly due to lower euro holdings and a stronger won.
South Korea's foreign currency deposits fell $1.4 billion in January to $118.03 billion, ending two months of growth, according to Bank of Korea data.
The decline was driven by a $2.36 billion drop in euro-denominated deposits, likely from companies settling trade payments, while U.S. dollar and Japanese yen deposits rose slightly.
Corporate holdings fell $1.82 billion, but individual deposits increased $420 million.
The shift coincided with a strengthening won and rising bank lending rates, including a 4.5% household loan rate.
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Los depósitos en moneda extranjera de Corea del Sur cayeron en $ 1.4 mil millones en enero, principalmente debido a las menores tenencias en euros y un won más fuerte.