South Korea pension fund, central bank expand FX swap line as won drops

Quick Summary:

SEOUL : South Korea's pension fund and central bank have agreed to expand their foreign exchange swap line and extend it by one year until the end of 2025, a move that comes as the won dropped to its lowest level in 15 years.

The programme, seen as a market stabilising tool, was first introduced in September 2022 and has since been expanded several times.

FILE PHOTO: The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Korea

Topics: Seen Foreign Bank South Central Korea Market Pension Exchange Fund Seoul

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 13:19:48 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 244 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24544577

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Official Website: channelnewsasia.com

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Year Established: 1999

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News Last Updated: 18 minutes ago

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