S. Korea extends currency swap deal with Malaysia

SEOUL, Feb. 3 (Yonhap) -- South Korea and Malaysia agreed on Monday to expand their currency swap deal by three years, South Korea's central bank said.

Under the extended deal, the countries' central banks will be allowed to exchange up to 5 trillion won (US$4.18 billion) or 15 billion Malaysian ringgits, when needed, according to the Bank of Korea (BOK).

"The extension of the currency swap deal between South Korea and Malaysia will contribute to the promotion of bilateral trade between the two countries and strengthening of their financial cooperation," the BOK said.

The renewed deal will be effective until Feb. 2, 2023.

bdk@yna.co.kr
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