# BOK offers $8.7b to banks via US currency swap - The Korea Herald

> The Bank of Korea offered $8.72 billion to local banks in its first dollar lending auction under its $60 billion currency swap line with the US Federal Reserve. Bids undershot the central bank's targets, which it read as a easing of the local dollar crunch. The won closed at 1,217.40 per dollar.

- Date: 2020-03-31 · published 2020-03-31T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/54341-bok-offers-8-7b-to-banks-via-us-currency-swap-the-korea-herald
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Dollar liquidity support eases pressure on the won and emerging-market currencies, which reduces the risk of forced foreign-currency selling. For feed buyers, a steadier won lowers the cost of imported feed inputs priced in dollars for Korean buyers.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- koreaherald.com: https://www.koreaherald.com/article/2272232

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.