Bilateral Local Currency Swap Agreement with Bank of Korea
Number2017-03 Date8 February 2017 Today, the Reserve Bank of Australia signed a bilateral local currency swap agreement with the Bank of Korea. It follows the initial swap agreement between the two central banks that was signed in 2014 and is for a further period of three years, which could be extended by mutual consent of both sides. The new agreement allows for the exchange of local currencies between the two central banks of up to A$10 billion or KRW 9 trillion.