Seoul: Foreign currency deposits rose for the first time in three months in December as companies boosted dollar holdings amid heightened uncertainties, the central bank said Monday. Outstanding foreign currency-denominated deposits held by residents came to US$101.3 billion as of end-December, up $2.87 billion from a month earlier.

According to Yonhap News Agency, the figure had fallen for the preceding two months due mainly to sagging corporate demand for U.S. dollar-denominated deposits amid the marked weakening of the Korean won. Residents include local citizens, foreigners who have stayed in South Korea for more than six months, and foreign companies. The data excludes interbank foreign currency deposits.

December's increase came as companies secured a larger amount of fund deposits for import settlements, investment, and other purposes while navigating uncertainties at home and abroad, the BOK said. Corporate deposits amounted to $87.12 billion as of end-December, up $3.17 billion from the previous month, while individual holdings shrank by $300 million to $14.18 billion.

By currency, dollar-denominated deposits rose by $3.8 billion to $86.43 billion, and Euro-denominated deposits gained $230 million to $4.37 billion. Japanese yen-denominated deposits fell $1.19 billion to $8.18 billion. The Korean won fell to 1,434.42 won against the greenback in December from the previous month's 1,393.38 won amid the strong dollar and a political crisis sparked by President Yoon Suk Yeol's shocking declaration of martial law on Dec. 3.