SEOUL, April 11 Yuan deposits at banks in South
Korea rose $270 million to a record $7.9 billion at the end of
March, central bank data showed on Friday, while foreign
exchange deposits shrank last month.
The Bank of Korea data showed foreign exchange deposits at
foreign banks in the country rose $1.7 billion in March to $15
billion, mainly due the increase in yuan holdings. However,
foreign exchange deposits at local banks fell $3.2 billion to
The central bank statement did not give a specific reason
for the rise in yuan holdings, but these deposits have surged
since last year due to higher returns in China.
Foreign exchange deposits in all banks in South Korea
slipped $1.6 billion to $51.1 billion at end-March, compared to
$52.7 billion at end-February.
(Reporting by Christine Kim; Editing by Shri Navaratnam)