US-Korea Currency Swap Funds $4 Billion Bid... $2.19 Billion Offered

[Asia Economy Reporter Kim Eunbyeol] The Bank of Korea announced on the 21st that financial institutions bid a total of 2.119 billion dollars in the fourth foreign currency loan competitive bidding using the Korea-US currency swap funds. The participating financial institutions bid only about half of the supply limit of 4 billion dollars.

On the morning of the same day, the Bank of Korea conducted a foreign currency loan bidding through the Bank of Korea Financial Network electronic bidding system targeting commercial banks, the Korea Development Bank, the Industrial Bank of Korea, and the Export-Import Bank of Korea. The scheduled bidding amount was 3.5 billion dollars for the 84-day maturity and 500 million dollars for the 6-day maturity, but the actual bid amount was 2.119 billion dollars for the 84-day maturity, and there were no bids for the 6-day maturity.

The entire bid amount was awarded on the day, and the dollar funds will be supplied to each institution on the settlement date, the 23rd.

Previously, the first foreign currency loan using currency swap funds was awarded 8.72 billion dollars, the second 4.415 billion dollars, and the third 2.025 billion dollars. In all the first to fourth foreign currency loan bids, only half of the supply limit was bid.

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