Foreign currency deposits down for 4th month in April

Foreign currency deposits declined for the fourth straight month in April as companies withdrew part of U.S. dollar-denominated deposits amid the weakening won, central bank data showed Friday. Residents' outstanding foreign currency-denominated deposits reached US$91.35 billion at end-April, down $3.66 billion from the previous month, according to the data from the Bank of Korea (BOK). Residents include local citizens, foreigners who have stayed 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 $3.26 billion to $74.33 billion, and Japanese yen-denominated deposits declined by $110 million to $9.71 billion last month. Euro-denominated deposits also fell by $550 million to $4.82 billion, and Chinese yuan-denominated deposits fell by $100 million to $910 million, according to the data. Corporate deposits came to $76.51 billion as of April, down $3.54 billion from the previous month, with in dividual holdings falling by $120 million to $14.84 billion. Source: Yonhap News Agency