BOK and NPS to run $10 bn FX swap until yearend to support KRW vs strong USD

[Photo provided by Bank of Korea]

Bank of Korea and National Pension Service with $54.8 billion assets under management as of May entered a FX swap on $10 billion until the year-end to help ease shortage of USD worsening the downside for KRW. FX reserve would decline, but for temporarily as the funds would be entirely returned after the swap contract ends.

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