SEOUL, Dec. 1 (Xinhua) — South Korea and Japan on Friday signed a bilateral foreign money swap deal price 10 billion U.S. {dollars} for 3 years, in accordance with the Bank of Korea (BOK).
Under the settlement, either side can be allowed to swap their home currencies in alternate for the U.S. {dollars} of as much as 10 billion {dollars} from one another in occasions of want for 3 years.
It was a follow-up measure after a gathering in June between finance ministers of the 2 nations.
The BOK stated in a press release that the foreign money swap deal, which goals to strengthen and complement different monetary security nets, will additional deepen monetary cooperation between the 2 nations and contribute to regional and world monetary stability.