# Stocks, currency rebound on currency swap deal - The Korea Times

> The KOSPI rose 7.44% and the won recovered after Korea and the US signed a $60 billion bilateral currency swap agreement. The deal aimed to ease a dollar shortage caused by foreign capital outflows during the pandemic. The won finished at 1,246.5 per dollar.

- Date: 2020-03-20 · published 2020-03-20T12:00:00.000Z
- Category: macro · region South Korea · magnitude medium
- Page: https://feedsoft.ai/events/54345-stocks-currency-rebound-on-currency-swap-deal-the-korea-times
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

The swap line reduces the risk of a currency crisis, which supports the won and lowers import costs for Korean feed buyers. It is a financial-markets event with no direct effect on grain supply.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- koreatimes.co.kr: https://www.koreatimes.co.kr/economy/20200320/stocks-currency-rebound-on-currency-swap-deal

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