KOREA-TURKEY CURRENCY SWAP DEAL
Korea and Turkey Agree on Currency Swap Deal
Korea and Turkey signed a US $2 billion[1] currency swap agreement on August 12. The swap agreement will be effective for three years and can be extended upon expiration if the two countries agree.
The bilateral currency swap agreement is expected to strengthen financial cooperation and help boost trade, contributing to economic growth in both countries. The swap deal will likely promote the use of both currencies for the settlement of trade between the two countries.
