South Korea, Canada sign standing currency swap: Bank of Korea

SEOUL: South Korea and Canada have signed a standing bilateral currency swap agreement that will allow both countries to provide liquidity for the counterparty to support domestic financial stability, the Bank of Korea said on Thursday.

The agreement, effective immediately, will enable the Bank of Canada to provide Canadian dollars to South Korean financial institutions and for the South Korean central bank to provide Korean won to financial institutions in Canada, the BOK statement said.