South Korea's yen use in trade settlement posts record low in 2014
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Seoul - XINHUA
South Korean companies' usage of Japanese yen in trade settlement fell to record low in 2014, as local companies refrained from receiving the Japanese currency, which sharply depreciated to its peers on monetary stimulus, central bank data showed on Tuesday.
The portion of the Japanese yen in export settlement accounted for 3.1 percent of the total, according to Bank of Korea (BOK). It was the lowest since 1992 when the bank began compiling the data.
The yen portion kept falling from 6 percent to 7 percent in 1990s to 4.4 percent in 2011, 4.3 percent in 2012 and 3.5 percent in 2013.
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