'S. Korea Needs to Resume Currency Swap Deal with US'

Write : 2016-02-28 14:43:16 Update : 2016-02-28 14:56:46

'S. Korea Needs to Resume Currency Swap Deal with US'

South Korea's Finance Minister Yoo Il-ho says that it is necessary to resume a currency swap deal with the United States.
 
Yoo, who is visiting Shanghai to attend a meeting of the G20 finance ministers and central bank governors, told reporters on Sunday that it is right to conclude the South Korea-U.S. swap deal again.
 
He added that he would ask Washington to start negotiations when the time is right.
 
A currency swap is an arrangement between two countries to exchange one currency with another at a predetermined rate of exchange.
 
Seoul and Washington agreed on a 30-billion dollar currency swap deal in 2008, which expired in February 2010.

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