FX뉴스 pension fund-FX swap deal

제목	pension fund-FX swap deal
일시	2023-12-15 15:51:54
pension fund-FX swap deal Foreign currency authorities, NPS agree to extend US$35 bln FX swap deal SEOUL, Dec. 15 (Yonhap) -- South Korea's foreign currency authorities said Friday that they agreed with the state pension operator to extend their US$35 billion currency swap deal by one year until the end of 2024. In April, they agreed to open the currency swap line as part of efforts to ease market volatility. The agreement, which will run through the end of next year, will allow the National Pension Service (NPS) to borrow up to US$35 billion from the foreign reserves of the Bank of Korea in exchange for its local currency holdings, according to the authorities. The deal is aimed at easing dollar demand in the spot market from the NPS for its overseas investments, to help curb the excessive ups and downs in foreign exchange rates. sam@yna.co.kr (END)

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