South Korea agrees currency deal with Japan, China

South Korea agreed a currency swaps deal with China and Japan on Friday as part of a joint effort to avoid financial turbulence in the region.

The Bank of Korea signed a bilateral won-yen swap deal worth $3 billion with the Bank of Japan, and extended a won-yuan agreement with the People's Bank of China by doubling its value to $4 billion.

The BOK said the deals were part of efforts to pursue stabilization of regional financial markets through supplying short-term liquidity.

"I am confident that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account