South Korea will supply 12 billion dollars into the local market on Tuesday, the first batch of 60 billion dollars to be injected under a currency swap deal with the United States.
 
The Bank of Korea (BOK) said on Sunday that it will receive bids for foreign currency loans from local financial institutions on Tuesday. The money will actually be injected into the market from Thursday after the bidding.
 
The ceiling amount for bidding is set at 300 million dollars for loans that mature in seven days, and one-point-five billion dollars for 84-day loans.
 
Last week, the BOK and the U.S. Federal Reserve agreed to sign the currency swap deal to ease a dollar shortage in the foreign exchange market caused by the COVID-19 pandemic.
 
South Korea struck a 30-billion-dollar currency swap deal with the United States during the global financial crisis in 2008. Nearly four billion dollars was supplied in the first batch under the 2008 agreement.