Korea, Switzerland agree to extend currency swap agreement for 5 yrs

South Korea’s central bank said on Monday its currency swap agreement with Switzerland has been extended for another five years in a move aimed at “enhancing bilateral cooperation and facilitating the functioning of financial markets of the two” countries.

The renewed 10 billion Swiss francs ($11.05 billion) currency swap deal, which was first signed in 2018, will be effective from March 1 and could be extended again if agreed by both sides.

South Korea has signed currency swap deals worth around $196 billion with more than eight countries including the United States, China and Canada.

https://www.reuters.com/article/southkorea-switzerland-currency-swap/skorea-switzerland-agree-to-extend-currency-swap-agreement-for-5-yrs-idUSL1N2KW0LI

 

Category: Korea