Bank of Korea governor says no discussions with Fed on FX swap

ReutersOct 20, 2025 6:41 AM

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SEOUL, Oct 20 (Reuters) - South Korea's central bank governor said on Monday no discussions had taken place with the U.S. Federal Reserve on establishing a bilateral currency swap line.

Governor Rhee Chang-yong said it was irrelevant to the problems the country was facing, apparently referring to concerns about the foreign exchange implications of a $350 billion investment package included in its trade deal with Washington.

U.S. Treasury Secretary Scott Bessent said last week he was surprised it did not already exist, after Seoul requested for a safeguard to mitigate the market impact of the investment package.

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