Tag: currency swap

currency swap

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Bank of Korea Gov. Rhee Chang-yong, right, poses for a photo with Bank of Japan Gov. Kazuo Ueda, center, and People's Bank of China (PBOC) Gov. Pan Gongsheng, left, ahead of their meeting held in Washington on Oct. 15. [YONHAP]

BOK denies report of trilateral currency swap discussion with China, Japan

The Bank of Korea (BOK) has denied discussing a trilateral currency swap with its counterparts in China and Japan, directly refuting a report published Wednesday by the South China Morning Post.

2025.10.22

National Security Adviser Wi Sung-lac speaks during a press briefing at the presidential office in Seoul on Oct. 16. [NEWS1]

National security adviser says 'no progress' has been made in Korea-U.S. currency swap negotiations

National Security Adviser Wi Sung-lac said on Thursday that there has been “no progress” in discussions between Korea and the United States on establishing a currency swap agreement “whether limited or unlimited in scope.”

2025.10.16

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Finance Minister Koo Yun-cheol shakes hands with U.S. Treasury Secretary Scott Bessent during their meeting in New York on Sept. 24. [YONHAP]

Korea agrees to give U.S. forex data, but currency swap omitted in trade talks

Korea has agreed to provide the United States with detailed monthly data on its foreign exchange transactions and restrict market intervention to periods of excessive volatility in trade negotiations, but there was no mention of a currency swap.

2025.10.1

A banker checks dollar bills at Hana Bank's Counterfeit Notes Response Center in Seoul on July 1. [YONHAP]

한국, 미국과 무제한 통화스와프 추진…실현 가능성은 희박

Korea’s push for an unlimited currency swap with the United States is likely to face significant hurdles, given the limited incentive for Washington to agree to the deal.

2025.9.24

Electronic boards at Hana Bank in central Seoul show the Kospi and the won-dollar exchange rate on Sept. 22. The won almost broke 1,400 against the greenback as the dollar strengthened on a hawkish U.S. Federal Reserve stance, while Britain's budget deficit came in significantly higher than the forecast. [YONHAP]

Won nearly hits 1,400 to the dollar as U.S. trade talks stall

The Korean won nearly broke the 1,400 threshold against the dollar on Monday, weighed down by stalled Korea-U.S. trade negotiations and a stronger dollar driven by Britain's budget deficit coming in significantly higher than expected.

2025.9.22

Korea pushes for unlimited currency swap with U.S., but doubts emerge over feasibility

Korea’s push for an unlimited currency swap with the United States is likely to face significant hurdles, given the limited incentive for Washington to agree to the deal.

2025.9.15

Korea renews $3.7 billion currency swap line with Malaysia

Korea and Malaysia renewed a 5 trillion won ($3.7 billion) currency swap deal Monday, a move aimed at offering liquidity support to both countries’ financial markets in times of crisis.

2024.5.13

Attendees of the Asean Plus Three Finance and Central Bank Deputies' Meeting pose for a photo during their two-day meeting in Kanazawa, Japan, from Wednesday to Thursday. [MINISTRY OF ECONOMY AND FINANCE]

Korea, Japan, China, Asean discuss currency swap, finance cooperation

Vice finance ministers from Korea, China, Japan, and the Association of Southeast Asian Nations (Asean) agreed to enhance a currency swap mechanism as part of broader efforts to strengthen financial cooperation.

2023.12.8

President Yoon Suk Yeol, left, Japanese Prime Minister Fumio Kishida, shake hands during the G20 meeting held in India in September. [YONHAP]

Korea and Japan re-establish $10 billion currency swap deal

Korea and Japan have officially struck a three-year currency swap deal eight years after discontinuing their previous agreement.

2023.12.1

Finance Minister Choo Kyung-ho, right, and his Japanese counterpart Shunichi Suzuki shakes hands at the eighth finance ministers meeting in Tokyo on Thursday. [MINISTRY OF ECONOMY AND FINANCE]

Korea, Japan agree to revive $10 billion currency swap deal

Korea and Japan have agreed to open a $10 billion currency swap line on Thursday after an eight-year hiatus.

2023.6.29