BOK extends US$ 60 bil. currency swap deal for another 6 months
Arirang News
2020-12-17
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600억달러 한도 한미 통화스와프 계약 6개월 재연장
The currency swap agreement between South Korea and the U.S. has been extended for another six months.
The deal allows the Federal Reserve to provide dollars directly to other central banks in exchange for their local currency at an agreed rate.
The Bank of Korea says it has agreed to renew its 60 billion U.S. dollar deal with the Federal Reserve Board to September 30th, 2021.
It added that both sides agreed it was needed as a preemptive measure to counter the economic uncertainty caused by the pandemic.
Since the deal was signed in March, the BOK has supplied almost 20 billion dollars to local banks.
The currency swap agreement between South Korea and the U.S. has been extended for another six months.
The deal allows the Federal Reserve to provide dollars directly to other central banks in exchange for their local currency at an agreed rate.
The Bank of Korea says it has agreed to renew its 60 billion U.S. dollar deal with the Federal Reserve Board to September 30th, 2021.
It added that both sides agreed it was needed as a preemptive measure to counter the economic uncertainty caused by the pandemic.
Since the deal was signed in March, the BOK has supplied almost 20 billion dollars to local banks.
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