Arab Today, arab today korea uae signs currency swap deal worth 54bn
Last Updated : GMT 07:01:29
Arab Today, arab today
Arab Today, arab today

Korea, UAE signs currency swap deal worth $5.4bn

Arab Today, arab today

Arab Today, arab today Korea, UAE signs currency swap deal worth $5.4bn

Seoul - Yonhap

South Korea and the United Arab Emirates on Sunday clinched a won-dirham currency swap deal worth US$5.4 billion as part of efforts to strengthen financial cooperation among the two nations, the Korean central bank said. Under the three-year currency swap facility, the two countries can exchange 5.8 trillion won for 20 billion dirham or vice versa, which could be also used to settle payments linked to their bilateral trade, the Bank of Korea (BOK) said in a statement. The BOK said that the deal is subject to renew upon agreement when a maturity comes. The BOK said that it and its counterpart in the United Arab Emirates will continue to make efforts to facilitate the two countries\' trade and strengthen financial cooperation. The UAE is South Korea\'s third-largest trade partner among countries in the Middle East. The value of Korea\'s import from the UAE reached $15.1 billion last year, while Seoul\'s exports were valued at $6.9 billion, according to the customs office. The move came as Korea and Indonesia agreed to sign a won-rupiah currency swap deal worth $10 billion amid market turmoil facing emerging countries, such as India and Indonesia. Korean Finance Minister Hyun Oh-seok said on Saturday in a meeting with reporters in Washington that Korea is in talks with a few more countries for currency swap deals. Hyun did not mention the names of the countries, but said they include those with which Korea has a large amount of trade, including imports of natural resources. A currency swap line is a tool to defend against financial turmoil by allowing a country beset by a liquidity crunch to borrow money from others with its own currency. The Korean government has been seeking to utilize currency swap deals with other countries to settle payments for trade in a bid to reduce its dependency on the U.S. dollar.

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*

Arab Today, arab today korea uae signs currency swap deal worth 54bn Arab Today, arab today korea uae signs currency swap deal worth 54bn

 



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*

Arab Today, arab today korea uae signs currency swap deal worth 54bn Arab Today, arab today korea uae signs currency swap deal worth 54bn

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday