Seoul, Beijing to extend currency swap deal to 2017
Oct 12, 2014
South Korea’s central bank said Saturday it has agreed with its Chinese counterpart to extend their maturing currency swap deal by three years to 2017.In a meeting in Washington, Bank of Korea Gov. Lee Ju-yeol and People’s Bank of China Gov. Zhou Xiaochuan signed an agreement to extend the bilateral deal to Oct. 10, 2017, the central bank said in a statement. The accord was to expire this year.In October 2011, the two central banks agreed to double their won-yuan swap to 64 trillion won ($60 bil