SEOUL (Reuters) – South Korea’s central bank said it renewed on Monday a currency swap agreement with its Australian counterpart, valued at 9.6 trillion won or A$12 billion, for five years until early 2028.
The agreement, first signed in 2014, allows either party to exchange funds in own currency for the other currency under pre-set terms.
The Bank of Korea and the Reserve Bank of Australia have since renewed the agreement several times.
($1 = 1,246.9200 won)
($1 = 1.4432 Australian dollars)
(Reporting by Choonsik Yoo; Editing by Subhranshu Sahu)