Updated Feb. 22, 2014 5:00 p.m. ET
South Korea and Australia have struck a three-year currency-swap deal worth up to $4.5 billion to boost bilateral trade and bolster safeguards against financial-market turbulence, the Bank of Korea and the finance ministry in Seoul said on Sunday.
The deal was signed by central bank chiefs of both countries—Kim Choong-soo and Glenn Stevens—on Saturday in Sydney on the sidelines of the gathering of Group of 20 finance officials.
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