China, South Korea agree to extend currency swap deal, but does it mean tensions are easing?
South Korea said on Friday said it had agreed with China to extend a currency swap deal between the countries’ central banks, a decision that could point to an easing of diplomatic tensions with Beijing over security issues.
The US$56 billion currency swap, which was due to have expired on Tuesday would be extended for a further three years, according to South Korea’s finance ministry and the Bank of Korea.
A central bank official said the agreement was struck on Tuesday, ahead of…
Source: China News
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