Illustrative image (Source: Yonhap News Agency)
 
Hanoi (VNA) – The Republic of Korea (RoK)’s Ministry of Strategy and Finance said on March 6 that the country and Indonesia have agreed to extend a currency swap deal for another three years as part of efforts to strengthen bilateral financial cooperation.

The new 11 trillion won (9.54 billion USD) deal came into effect on March 6 and expires in 2020, the Yonhap News Agency reported.

The currency agreement is to promote bilateral trade and bolster financial cooperation between the two countries, said the ministry.

To date, the RoK has currency swap deals with China, Malaysia, Australia and Indonesia. Seoul has discussed with the United Arab Emirates to renew their swap arrangement.-VNA