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S. Korea, China extend US$ 56 bil. currency swap agreement

2020-10-08 34 Dailymotion

한은 "중국과 통화스와프 계약 연장 합의"<br /><br />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.<br />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.<br />The deal dates back to the global financial crisis, and its most recent extension was due to expire this Saturday.<br />The currency swap with China is Korea's second biggest after the one with the U.S. worth 60 billion dollars.<br />

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