SEOUL, July 14 (Xinhua) -- Foreign currency deposits in South Korea posted the biggest monthly fall as companies dumped the U.S. dollar amid strong dollar, central bank data showed Friday.
Deposits denominated in foreign currencies stood at 63.61 billion U.S. dollars as of end-June, down 6.33 billion dollars from a month earlier, according to Bank of Korea (BOK).
It marked the biggest monthly reduction as domestic firms withdrew the dollar funds to sell them in the currency market amid the appreciation of the greenback versus the South Korean currency.
The won/dollar exchange rate averaged 1,144.1 won per dollar as of end-June, up from 1,119.5 won a month ago.
After peaking at the record high of 70.54 billion dollars in March, the foreign currency deposits repeatedly went up and down in recent months.
The dollar deposits tumbled 5.39 billion dollars over the month to 54.19 billion dollars as of end-June, with those for the Japanese yen and the European currency falling to 4 billion dollars and 2.58 billion dollars each.
The Chinese yuan-denominated deposits shed 70 million dollars to 1.22 billion dollars in the cited period.
The dollar deposits held by companies plunged 4.87 billion dollars to 44.2 billion dollars, while those owned by individuals dipped 0.52 billion dollars to 9.99 billion dollars.
