The Bank of Korea said on the 31st that it is bidding a foreign currency loan to a domestic financial institution for the first 12 billion dollars out of the 60 billion dollars in US-Korea currency swap funds.
The actual amount of money to be released to financial companies after bidding is on April 2nd.
The maximum bid amount per financial company was limited to $ 300 million for a 7-day loan, and $ 1.5 billion for a 84-day loan, so Han Eun explained.
Earlier, the Bank of Korea signed a currency swap agreement with the US Federal Reserve System of $ 60 billion to allow the other country to receive its currency and dollars in the event of an emergency, such as the financial crisis.
$ 12 billion for the first US-Korea currency swap, bidding from the 31st
2020-03-29T04:42:24.454Z
The Bank of Korea said on the 31st that it is bidding a foreign currency loan to a domestic financial institution for the first 12 billion dollars out of the 60 billion dollars in US-Korea currency swap funds. The actual amount of money to be released to financial companies after bidding is on April 2nd.
Source: sbskr