RoK, Indonesia agree to extend currency swap deal to 2020

The Republic of Korea and Indonesia have agreed to extend a currency swap deal for another three years as part of efforts to strengthen bilateral financial cooperation.

Monday, March 06, 2017 19:49

RoK, Indonesia agree to extend currency swap deal to 2020 ảnh 1

Illustrative image (Source: Yonhap News Agency)

Hanoi (VNA) – The Republic of Korea(RoK)’s Ministry of Strategy and Finance said on March 6 that the country andIndonesia have agreed to extend a currency swap deal for another three years aspart of efforts to strengthen bilateral financial cooperation.

The new 11 trillion won (9.54 billion USD) deal came into effect on March 6 andexpires in 2020, the Yonhap News Agency reported.

The currency agreement is to promote bilateral trade and bolster financialcooperation between the two countries, said the ministry.

To date, the RoK has currency swap deals with China, Malaysia, Australia andIndonesia. Seoul has discussed with the United Arab Emirates to renew theirswap arrangement.-VNA

VNA

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