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S.Korea central bank, Fed extend currency swap line for three months to Dec 31

06/16/2021 | 06:51pm EDT

SEOUL, June 17 (Reuters) - South Korea's central bank on Thursday said it has agreed to renew an existing currency swap agreement with the U.S. Federal Reserve for another three months to at least Dec. 31, 2021.

The bilateral $60 billion currency swap deal was first signed in mid-March last year to prevent the coronavirus pandemic from causing a global economic rout and help stabilise the local currency market.

The Bank of Korea, however, had suspended dollar auctions after injecting a total of $19.872 billion through six separate auctions. (Reporting by Joori Roh Editing by Chris Reese)


© Reuters 2021
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