[Global Economic Times] Last month, foreign currency deposits of residents increased for four consecutive months.

According to 'Resident Foreign Currency Deposit Trends' announced by the Bank of Korea on the 21st, the balance of resident foreign currency deposits in foreign exchange banks as of the end of September was $104.07 billion, an increase of $3.66 billion from the end of August.

Resident foreign currency deposits refer to domestic foreign currency deposits of domestic citizens, domestic companies, foreigners who have lived in Korea for more than six months, and foreign companies operating in Korea.

It has been increasing for four consecutive months since last June.

By currency type, the US dollar increased by $2.27 billion to $85.84 billion.

The Bank of Korea explained that dollar-denominated deposits increased due to deposits of export-import related payments and the issuance of foreign currency bonds by public institutions.

The yen (USD 10.34 billion) increased by USD 530 million due to the receipt of dividends by some companies and the increase in dollar conversion due to the appreciation of the yen, and the Yuan (USD 1.66 billion) also increased by USD 6 due to the receipt of proceeds from business sales by some companies. It increased by $200 million.

By entity, corporate deposits ($88.75 billion) increased by $3.5 billion in a month, and individual deposits ($15.32 billion) also increased by $160 million.