SEOUL, April 22 (Xinhua) -- South Korea's foreign currency deposits fell for a third consecutive month due to a surge in demand to convert the U.S. dollar into the South Korean won, central bank data showed Wednesday.
The deposits, denominated in foreign currencies, tumbled 15.37 billion U.S. dollars from a month earlier to 102.17 billion dollars at the end of March, continuing to go down since January, according to the Bank of Korea (BOK).
It marked the largest monthly decline as the spike in the won versus dollar exchange rate boosted demand to sell their dollars for the won.
The won versus dollar exchange rate soared to 1,530.1 won per dollar at the end of March from 1,439.7 won tallied a month earlier.
The dollar-denominated deposit plunged 10.36 billion dollars to 85.64 billion dollars, and the Japanese yen deposit retreated 1.49 billion dollars to 7.82 billion dollars last month.
The European currency deposit sank 3.28 billion dollars to 6.31 billion dollars, and the Chinese yuan deposit edged down 0.06 billion dollars to 1.17 billion dollars.
Foreign currency deposits, possessed by companies, reduced 13.43 billion dollars to 86.80 billion dollars in the cited month, and the individual-owned deposits dipped 1.93 billion dollars to 15.37 billion dollars. ■
