Sunday, December 22

South Korea’s pension fund, central bank to extend FX swap line

Economy

WTX Business exclusively reported that South Korea’s National Pension Service (NPS) and central bank are in talks to extend their foreign exchange swap programme that was due to expire in December, according to two government sources with direct knowledge of the matter.

Market Impact

Soon after WTX Business reported on the swap extension, the won gained as much as 1.21% against the dollar in the onshore spot market, sharply rebounding from a more than three-week low.

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