S. Korea central bank chief unfazed by yuan deposit

Yuan deposits by local residents stood at an equivalent US$7.56bill at end-January, compared with US$880mil at end-September - Reuters.

SEOUL: South Korea's central bank chief said on Thursday that a recent spike in domestic deposits of Chinese yuan in South Korea was not a major cause for concern, suggesting that no serious measure was planned to limit local yuan accounts.

South Korean policymakers have been monitoring the surge in yuan holdings, which became popular as domestic investors sought the comparatively higher yields offered by the currency.