Japan, S. Korea revive currency swap agreement as ties thaw

Politics Economy

Japan and South Korea signed Friday a bilateral currency swap agreement to enable access to the other's funds in times of emergency, reviving an arrangement that expired eight years ago amid the cooling of ties over wartime history. The signing of the $10 billion swap arrangement came after the finance ministers of both nations agreed to revive it during talks in June. The deal allows the nations to exchange their respective currencies for the dollar, according to the Japanese Finance Ministry. The previous arrangement ended in 2015 and was not renewed amid friction over South Korea-controlled...

Kyodo News

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