Pension fund, central bank to extend forex swap plan

The swap allows the NPS to use the BoK’s foreign exchange reserves in times of currency market volatility. — Reuters

SEOUL: South Korea’s National Pension Service (NPS) and central bank are in talks to extend their foreign exchange (forex) swap programme that was due to expire this month, according to sources.

“The two institutions seem to be in agreement with each other to extend. They are considering it positively,” a welfare ministry official told Reuters.