March 25, 2020 / 1:13 AM / 8 days ago

CORRECTED-Bank of Korea to channel dollar liquidity next week from currency swap with Fed

(Corrects period in the lead to next week from this week)

SEOUL, March 25 (Reuters) - South Korea’s central bank plans to inject dollars into local financial markets next week using a currency swap with the U.S. Federal Reserve to help ease a growing dollar shortage in onshore markets, a senior bank official said.

The Fed said on March 19 the Bank of Korea is one of nine central banks it will sign new dollar swap lines with in a coordinated action to prevent the coronavirus epidemic from causing a global economic rout. (Reporting by Cynthia Kim; Editing by Muralikumar Anantharaman)

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