Tue, Dec 23, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Currencies, Market Moves, Regulatory more

Currency swap against crisis

Posted on 05 January 2009

From Bjreview.com.cn: On December 12, the People’s Bank of China and the Bank of Korea jointly announced a bilateral currency swap arrangement worth 180 billion yuan ($27 billion), or 38 trillion Korean won. The three-year deal aims to provide liquidity for the financial systems in the two countries and keep their currencies stable.

Setting up such a currency swap was the core of the Chiang Mai Initiative, established in 2000 to encourage bilateral swap agreements between countries in the ASEAN+3-the 10 members of the Association of Southeast Asian Nations plus China, Japan and South Korea. …..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38584 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031