South Korea, Australia Ink US$ 4.5 Billion Currency Swap Agreement

Posted on 02/25/2014


The Bank of Korea and Reserve Bank of Australia struck a bilateral local currency swap agreement on Sunday. The deal, which is effective for three years unless extended through mutual consent, allows the exchange of up to 5 trillion won for 5 billion Australian dollars (US$ 4.5 billion). “The agreement will ensure that trade between […]