South Korea, Australia central banks renew currency swap agreement
Business
South Korea, Australia central banks renew currency swap agreement
SEOUL, (Reuters) - South Korea's central bank said it renewed on Monday a currency swap agreement with its Australian counterpart, valued at 9.6 trillion won or A$12 billion, for five years until early 2028.
The agreement, first signed in 2014, allows either party to exchange funds in own currency for the other currency under pre-set terms.
The Bank of Korea and the Reserve Bank of Australia have since renewed the agreement several times.
