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.
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
The Republic of Korea (RoK) and Indonesia have agreed to intensify bilateral links across infrastructure, trade, investment, maritime affairs and energy.
Indonesia and Japan signed to extend a bilateral currency swap agreement on the sidelines of an annual meeting between the International Monetary Fund and the World Bank on October 9.
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Illustrative image (Source: Yonhap News Agency) 
