알파경제 - The Bank of Korea renewed a currency swap agreement worth 5 trillion won with Malaysia.

(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Minyoung] The Bank of Korea announced on the 13th that it has renewed its one-ringgit currency swap contract worth 5 trillion won with the Central Bank of Malaysia.

The currency swap is the same size as the existing contract signed in February 2020, and the expiration date is until May 12, 2027 (three years).

Upon maturity, it can be extended by bilateral agreement.

A BOK official said, "This currency swap contract will contribute to promoting trade between the two countries and strengthening financial cooperation."

알파경제 Kim Minyoung (kimmy@alphabiz.co.kr)