S. Korea, China extend US$ 56 bil. currency swap agreement
- 4 years ago
한은 "중국과 통화스와프 계약 연장 합의"
South Korea and China have decided to extend their currency swap deal, worth fifty-six billion U.S. dollars, to ease potential liquidity problems in the pandemic.
The Bank of Korea said Thursday that an agreement was reached at the working level, and details will be announced once related processes are complete.
The deal dates back to the global financial crisis, and its most recent extension was due to expire this Saturday.
The currency swap with China is Korea's second biggest after the one with the U.S. worth 60 billion dollars.
South Korea and China have decided to extend their currency swap deal, worth fifty-six billion U.S. dollars, to ease potential liquidity problems in the pandemic.
The Bank of Korea said Thursday that an agreement was reached at the working level, and details will be announced once related processes are complete.
The deal dates back to the global financial crisis, and its most recent extension was due to expire this Saturday.
The currency swap with China is Korea's second biggest after the one with the U.S. worth 60 billion dollars.