Off the wire
• China Headlines: Chinese relief to Nepal after quake  • 'Chicharito' Hernandez a dilemma for Real Madrid  • One killed in South Afrcia train collision  • Pollution makes dairying "zero-sum" gain for New Zealand: researchers  • China on-grid wind power capacity rises steadily  • Tight labor market in Singapore expected in 2015  • Spotlight: Escalating violence convulses U.S. city after black man's death, state of emergency declared  • Hearing reviews 20-year-old rape and murder case  • Easy-looking match for Real Madrid vs relegation-haunted Almeria  • Australian share market eases at Tuesday's close  
You are here: 　 Home

Japanese yen settlement for S.Korean exports falls to record-low in Q1

Xinhua, April 28, 2015 Adjust font size:

The portion of Japanese currency, which South Korean companies receive for export settlement, declined to a record-low in the first quarter due to the weak yen trend, central bank data showed on Tuesday.

The yen usage in South Korea's export settlement accounted for 2.7 percent of the total in the first quarter, down 0.3 percentage points from the previous quarter, according to the Bank of Korea ( BOK).

It was the lowest figure since the BOK began compiling the related data in 1992. The yen portion for settlement continued to decline from more than 6 percent in 1990s to 4.4 percent in 2011 and 3.1 percent in 2014.

The first-quarter decline in the yen settlement came as the Japanese yen launched a downward trend since Prime Minister Shinzo Abe printed money to escape from more than 20 years of deflation.

The European currency's portion for export settlement was 4.8 percent in the first quarter, down 0.5 percentage points from three months earlier, due to a fall in South Korea's exports to the debt-ridden European nations.

The U.S. dollar's portion, however, gained 0.2 percentage points from the previous quarter to 86.5 percent in the first quarter.

South Korea's exports to the United States increased 13.4 percent in the first quarter from a year earlier, but those to Japan declined 22 percent during the quarter. Endi