Of the $ 60 billion in US-Korea currency swap funds, the first $ 12 billion is available today (31st).
The Bank of Korea said today that 10 am to 10:30 am will bid foreign currency loans to domestic commercial banks through the electronic bidding system of the financial network.
The estimated bid amount is $ 2 billion for 7 days and $ 10 billion for 84 days.
The minimum bid rate is 0.322% per year on the 7th and 0.3210% per year on the 84th.
The actual amount of money released to the bank after the bid is April 2nd.
Earlier, Han Eun signed a US $ 60 billion currency swap agreement with the Federal Reserve (Fed).
Currency Swap is a contract that allows you to leave your currency in the other country and receive the currency or dollar of the other country in an emergency, such as the foreign exchange crisis.
An official from Han said, "We expect that the supply of currency swaps will improve the foreign currency financing situation."
Haneun to supply US $ 12 billion in currency swaps
2020-03-30T23:27:25.377Z
Of the $ 60 billion in US-Korea currency swap funds, the first $ 12 billion is available today. The Bank of Korea said today that 10 am to 10:30 am will bid foreign currency loans to domestic commercial banks through the electronic bidding system of the financial network.
Source: sbskr