Third Bid for Korea-US Currency Swap Funds... $2.025 Billion Awarded

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] The Bank of Korea announced on the 14th that, as a result of a competitive bidding for foreign currency loans utilizing the $4 billion Korea-US currency swap funds, a total of $2.025 billion was bid and fully allotted.

Of the $2.025 billion bid, the 83-day tranche amounted to $2.015 billion, and the 6-day tranche was $100 million. The allotted $2.025 billion is scheduled to be actually supplied to the market on the 17th.

A Bank of Korea official stated, "Based on demand monitoring, we decided the bidding scale with ample margin," adding, "Considering the bid size and other factors, the domestic foreign currency funding situation appears to be favorable." He further added, "We plan to conduct additional bidding in the future, taking into account foreign currency funding conditions."

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