On 6 March 2017, the Bank of Korea (BOK) renewed a currency swap agreement with its Indonesian counterpart for another three years on the same terms and conditions.
The three-year deal, which is set to expire on 5 March 2020, allows for the exchange of up to KRW 10.7 trillion or IDR 115 trillion in local currencies between the two central banks.
Meanwhile, the BOK and its Australian counterpart agreed on 8 February 2017 to nearly double the size of bilateral currency swap arrangements over an extended
period of three years. The initial agreement between the two parties, which was signed on 23 February 2014, was worth KRW 5 trillion or AUD 5 billion in the aggregate.
The three-year extension of the deal will last until 7 February 2020, during which the two central banks are set to exchange a total of KRW 9 trillion or AUD 10 billion
in local currencies.