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BOK, Swiss National Bank extend currency swap agreement through March 2031

Published: 09 Mar. 2026, 14:00 Updated: 09 Mar. 2026, 14:28

JIN MIN-JI
[email protected]

Bank of Korea Gov. Rhee Chang-yong, right, and Martin Schlegel, chairman of the governing board of the Swiss National Bank, pose for a photo after renewing a currency swap agreement at the headquarters of the Bank for International Settlements in Basel, Switzerland, on March 9. [BOK]

The Bank of Korea and the Swiss National Bank renewed the won-franc bilateral swap agreement, extending the deal through March 2031, said Korea’s central bank on Monday.

The size of the arrangement struck in Basel, Switzerland, is 18.5 trillion won ($12.36 billion), staying unchanged from the previous five-year arrangement extended in 2021.

“The agreement strengthens bilateral cooperation between the Bank of Korea and the Swiss National Bank and serves the purpose of facilitating the functioning of financial markets,” said the BOK in a statement.

The two central banks first made a currency swap agreement in 2018 and have renewed the arrangements since.

The effective period is for five additional years from March 1, 2026, and may be further extended by mutual agreement between the two institutions.

BY JIN MIN-JI [[email protected]]