TCMB - Central Bank of the Republic of Türkiye and Bank of Korea Renew Bilateral Currency Swap Arrangement (2024-43)
Central bank: tcmb | Type: decision | Date: 2024-08-12

No: 2024-43
12 August 2024
The swap arrangement allows for the exchange of local currencies between the two central banks of up to TRY 56.0 billion or KRW 2.3 trillion, reflecting recent KRW/TRY exchange rates.
The effective period is 3 years from today, and could be extended by mutual agreement between the two sides.
This arrangement is designed to promote bilateral trade through a swap-financed trade settlement facility and financial cooperation between the two countries. The two sides expect that this will further strengthen collaboration between the two central banks.