Foreign currency deposits held by residents in
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South Korea
fell by 2.16 billion U.S. dollar in November from a month earlier, amounting to 22.15 billion U.S. dollars, the Bank of Korea (BOK) said Friday.
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The central bank attributed the drop to the decline of export earnings.
South Korean exports, which account for about 60 percent of the country's economy, declined 18.3 percent in November from a year ago amid ongoing global recession, posting the biggest drop in seven years, the BOK said.
U.S. dollar-denominated savings fell by 2.03 billion U.S. dollars last month to 18.58 billion U.S. dollars while euro-denominated deposits decreased by 450 million U.S. dollars to 36 billion U.S. dollars, the BOK said.
Meanwhile Japanese yen-denominated savings gained 300 million U.S. dollars month to 1.86 billion U.S. dollars during the same period, it added.
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