# Bank of Korea to offer $12 bln in dollar lending from Fed currency swap

> The Bank of Korea said it will use its new Federal Reserve currency swap to offer $12 billion in dollar lending. The dollars will be auctioned for seven-day and 84-day terms at 25 basis points over the overnight rate.

- Date: 2020-03-29 · published 2020-03-29T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/54342-bank-of-korea-to-offer-12-bln-in-dollar-lending-from-fed-currency-swap
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

The dollar injection supports Korean financial stability during the coronavirus shock, with limited direct effect on grain or feed prices. It mainly affects currency and funding conditions for importers.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/health-coronavirus-southkorea-cenbank/bank-of-korea-to-offer-12-bln-in-dollar-lending-from-fed-currency-swap-idUSS6N2BF001/

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