SEOUL - South Korea's foreign currency deposit fell for the fourth straight month due to the sale of the strong US dollar, central bank data showed on Friday.
The deposit, denominated in foreign currencies, shrank $3.66 billion from a month earlier to $91.35 billion at the end of April, continuing to slide since January, according to the Bank of Korea.
The consecutive reduction came as the strong dollar led companies to dump the US currency.
The won/dollar exchange rate averaged 1,367.8 won per dollar in April, up from 1,330.7 won in the previous month.
The deposit, denominated in the US dollar, dipped $3.26 billion from a month earlier to $74.33 billion at the end of April.
The Japanese yen and the euro deposits decreased to $9.71 billion and $4.82 billion, respectively.
The Chinese yuan deposit came in at $910 million at the end of April, down $100 million from a month earlier.
Foreign currency deposits, owned by companies, dropped from $3.54 billion to $76.51 billion in the cited month, while the individuals-possessed deposit declined $0.12 billion to $14.84 billion.
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