japan south korea to end currency swap deal
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Japan, South Korea to end currency swap deal

Arab Today, arab today

Arab Today, arab today Japan, South Korea to end currency swap deal

Bank of Korea
Tokyo - KUNA

Japan and South Korea decided not to renew their 14-year-old bilateral currency swap agreement, the Japanese Finance Ministry said Monday.
"The authorities of Japan and Korea agreed that the bilateral swap arrangement between the Bank of Japan, acting as the agent for the Minister of Finance of Japan, and the Bank of Korea, will expire on February 23 as scheduled," the ministry said in a statement. The swap deal currently allows both countries to obtain dollars by swapping their local currencies up to USD 10 billion during financial emergencies.
Established in 2001, the program was originally designed to help South Korea retain stability in its currency amid global financial market turmoil caused by the European debt crisis.
The size of the swap arrangement grew to USD 70 billion in 2011 following a series of global financial crisis, but shrank to USD 10 billion in 2013 amid a persistent territorial disputes and different views on Japan's 1910-1945 colonial rule of the Korean Peninsula.
Despite the decision to terminate the deal, the ministry said the finance ministers of the two countries will resume their regular talks in May in Tokyo after a 30-month hiatus.
The authorities of Japan and South Korea also agreed to cooperate in an appropriate manner as the need arises, according to the statement.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

japan south korea to end currency swap deal japan south korea to end currency swap deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

japan south korea to end currency swap deal japan south korea to end currency swap deal

 



GMT 13:38 2018 Thursday ,13 December

Maduro says meeting with Putin most useful in his career

GMT 02:04 2017 Sunday ,22 October

June22nd-July23rd

GMT 17:35 2017 Tuesday ,18 April

Saudi air force helicopter crashes, killing 12

GMT 22:10 2017 Monday ,07 August

26 killed in Punjab rainstorm

GMT 07:45 2017 Saturday ,19 August

Sudanese and Ethiopian Ministers discuss cooperation

GMT 20:11 2017 Friday ,20 January

Russia, Syria ink agreement to expand Tartus port

GMT 10:04 2017 Friday ,06 October

Rowida Atteiya bets on success of her new song

GMT 08:42 2017 Thursday ,27 April

HM King hails Spanish ties

GMT 09:05 2018 Sunday ,21 January

'Outskirts' Dawn' outstanding achievement

GMT 21:53 2015 Thursday ,03 September

Israel recovers ancient sarcophagus hidden by contractors

GMT 11:18 2018 Monday ,01 January

Maiduguri suicide attacks condemned

GMT 02:29 2016 Wednesday ,16 November

Iraqi Forces advance in Mosul offensive against Daesh
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday