Current Status of the Bank of Korea’s Currency Swap Arrangements
Bank of Korea has actively pursued currency swap arrangements with major central banks to enhance financial safety nets and other initiatives. Korea also participates in the Chiang Mai Initiative Multilateralization (CMIM), a multilateral currency swap arrangement that promotes stability in regional financial markets by preventing liquidity crises and supporting ex-post resolution in the ASEAN+3 economies.
Thanks to these efforts, as of the end of May 2024, the Bank has currency swap arrangements totaling approximately $148.2 billion (excluding Canada, which does not have a pre-set limit) in value.
Current Status of the BOK’s Currency Swap Arrangements
(as of the end of May 2024)
| Bilateral | Multilateral | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Canada (KRW↔CAD) |
China (KRW↔CNY) |
Switzerland (KRW↔CHF) |
Indonesia (KRW↔IDR) |
Japan (KRW↔USD) |
Australia (KRW↔AUD) |
UAE (KRW↔AED) |
Malaysia (KRW↔MYR) |
Turkiye (KRW↔TRY) | CMIM | |
| Total principal amount | (+α)1) | 70 trillion KRW ↔ 400 billion CNY |
11.2 trillion KRW ↔ 10 billion |
CHF 10.7 trillion KRW ↔ 115 trillion IDR |
10 billion USD | 9.6 trillion KRW ↔ 12 billion AUD |
6.1 trillion KRW ↔ 20 billion AED |
5 trillion KRW ↔ 15 billion |
MYR 2.3 trillion KRW ↔ 17.5 billion TRY |
38.4 billion USD |
| (59 billion USD) | (10.6 billion USD) | (10 billion USD) | (8.1 billion USD) | (5.4 billion USD) | (4.7 billion USD) | (2 billion USD) | ||||
| Maturity | -2) | Oct.2025 | Mar.2026 | Mar.2026 | Nov.2026 | Feb.2028 | Apr.2027 | May.2027 | Aug.2024 | -2) |
- Note : 1) Without pre-set total pincipal amount
- 2) With no maturity date