Foreign currency deposits at banks jumped 13 percent in March from a month earlier due mainly to increased deposits by local companies, central bank data showed Friday.

Outstanding foreign currency deposits held by local residents came to $60.6 billion last month, up $7.1 billion from the previous month, according to the data compiled by the Bank of Korea. 


Local residents include firms and foreign nationals who have stayed in the country for more than six months. The deposit figure excludes inter-bank foreign currency deposits.

"The on-month gain in March was largely attributed to a 14 percent on-month increase, or $5.8 billion, in the dollar-denominated deposits by domestic exporters and importers," it said.

In February, foreign currency deposits continued to shrink for a fourth consecutive month to $53.47 billion, the lowest level since $51.1 billion tallied in March 2014. (Yonhap)