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Yoon, Biden could discuss currency swap at summit: official

16:12 September 16, 2022

SEOUL, Sept. 16 (Yonhap) -- President Yoon Suk-yeol and U.S. President Joe Biden could discuss the possibility of a currency swap deal between the two countries when they meet in New York next week, a presidential official said Friday.

Choi Sang-mok, senior presidential secretary for economic affairs, told reporters he would not get ahead of the meeting slated to take place on the sidelines of the U.N. General Assembly, but that both sides have taken an interest in the issue of reopening a currency swap line.

"The leaders agreed during their summit in May to cooperate closely over the foreign exchange market and we also had talks between our finance ministers," Choi said. "We expect that some sort of discussion could naturally take place."

When pressed to clarify whether the subject could be discussed between the two governments, Choi stressed that he expected such discussions only because the two leaders had agreed to cooperate on the matter in May.

Calls for a currency swap arrangement have grown amid the Korean won's continued fall against the U.S. dollar.

Choi Sang-mok, senior presidential secretary for economic affairs, briefs reporters at the presidential office in Seoul on Sept. 16, 2022. (Yonhap)



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