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S. Korea, U.S. extend US$ 60 bil. currency swap agreement by 6 months amid COVID-19 pandemic

2020-07-30 2 Dailymotion

600억달러 규모 한미 통화스와프 6개월 연장 합의<br /><br />South Korea and the U.S. are extending their 60-billion U.S. dollar bilateral currency swap deal by another six months,... as they look to ease lingering market uncertainties in the era of COVID-19.<br />With the agreement, the deal, initially set to finish at the end of September has now been extended until the end of March 2021.<br />The Bank of Korea said Thursday that despite both the U.S. dollar and Korea's foreign exchange markets showing signs of stabilizing the virus is still a concern.<br />The deal marks the second its kind to be signed with the U.S. after the Korean won-dollar swap line was sealed in October 2008 at the height of the global financial crisis.<br />

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