Foreign currency deposits at South Korean banks rose in February from the previous month as the country’s trade surplus remained in the black and corporate sales of overseas bonds gained, the central bank said Monday.

Outstanding foreign currency-denominated deposits held by local residents reached $34.65 billion as of the end of February, up $2.14 billion from a month earlier, according to the Bank of Korea.

Residents include individual citizens and firms but does not cover foreign nationals with residency status. The data also excludes inter-bank foreign currency deposits.

The BOK said exporters parked more deposits as export earnings stayed firm amid the trade surplus and corporate sales of overseas bonds more than doubled to $1.02 billion from $450 million in the cited period.

South Korea’s trade surplus came in the black for 13th straight month last month with a $2.6 billion surplus, though the amount dropped on weakening demand amid the sluggish global economy.

Companies’ holding of FX deposits rose $2.08 billion on-month to $30.79 billion while those held by individuals increased by $600 million to $3.86 billion, the central bank added. (Yonhap News)