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Bank of Korea extends currency swap arrangement with U.S.

Source : Bank of Korea

The Bank of Korea and the Federal Reserve have extended their temporary reciprocal currency arrangement, originally set to expire on October 30, 2009, until February 1, 2010, EST.

The Bank of Korea expects that this action of extending its swap agreement with the Federal Reserve will contribute to continuing stability of the foreign currency funding market and financial market in Korea.

The Federal Reserve has also extended to February 1 its temporary reciprocal currency arrangements with other central banks. Information on the actions that will be taken by other central banks is available at the following websites:

(1) Federal Reserve
(2) Reserve Bank of Australia
(3) Banco Central do Brasil
(4) Bank of Canada
(5) Danmarks Nationalbank
(6) European Central Bank
(7) Bank of England
(8) Bank of Japan
(9) Banco de Mexico
(10) Reserve Bank of New Zealand:
(11) Norges Bank
(12) Monetary Authority of Singapore
(13) Sveriges Riksbank
(14) Swiss National Bank
*Press release (June 26)

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