Import settlements in yen dip to record low in Q3

SEOUL, Oct. 22 (Yonhap) -- The portion of Japanese currency used by South Korean importers to settle their deals in the third quarter fell to a record low, central bank data showed Wednesday.

The use of the yen accounted for a record low of 4.8 percent of all import settlements in the third quarter, down from 5.3 percent in the second quarter, according to the preliminary data by the Bank of Korea (BOK). The central bank began compiling the data in 1992.

A BOK official declined to comment on the reasons behind the data.

The use of the dollar accounted for a dominant 84.5 percent of all import settlements in the third quarter, up from 83.9 percent three months earlier.

For exports, the dollar was the most-favored settlement currency, accounting for 86.2 percent of total export settlements in the third quarter. The figure marks the highest level since January 2011.

The euro came next at 5.1 percent, falling to the lowest level since March 2001. The yen followed with 3.1 percent.

mil@yna.co.kr
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