The Bank of Korea offers competitive option swap facility
The BoK said last Friday the facility will improve predictability and the effectiveness of foreign currency supply.
Under the new facility, the BoK will trade directly with banks, with trade terms such as amount and interest rates decided through competitive auction. This differs to the previous model, introduced in 2007, whereby the BoK traded with intermediary banks, which then traded with other foreign exchange banks. The old model will be gradually phased out.
Saima Farooqi
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