SEOUL, June 15 (Xinhua) -- Foreign currency deposits in South Korea rose last month as local exporters delayed the sale of the U.S. dollar funds earned from exports, central bank data showed Thursday.
Deposits denominated in foreign currencies came in at 69.94 billion U.S. dollars as of end-May, up 2.55 billion dollars from a month earlier, according to the Bank of Korea (BOK).
The deposits refer to those owned by residents, including South Koreans and foreigners who have stayed here for over six months.
The dollar-denominated deposits increased 1.59 billion dollars from a month earlier to 59.58 billion dollars as of end-May.
The BOK said large exporters postponed the sale of the dollar funds that were earned from exports.
The won/dollar exchange rate was 1,119.5 won against the dollar as of end-May, down 18.4 won from a month ago. The weaker dollar discouraged exporters from selling the dollars.
The Japanese yen-denominated deposits rose 0.61 billion dollars to 4.38 billion dollars, but the euro deposits fell 0.04 billion dollars to 2.94 billion dollars.
The Chinese yuan deposits inched up 0.07 billion dollars to 1.29 billion dollars.
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