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© Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.S Korea, Japan agree to expand currency swap deal
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nath
Interesting thoughts. Still not really sure what it means, but will try to figure it out. Thanks for the thumbs. I must appear as a ding dong twit headed girl.
Ben_Jackinoff
Does this mean we'll have to start paying with won and the Korean'll pay with yen?
paulinusa
JapanGal: I don't believe this has anything to do with the currency exchange rate. I think it simply means that the central banks of both Japan and Korea can quickly access money (which are considered short term loans ) from each other in an economic emergency.
CrazyJoe
South Korea had a trade deficit of 36.12 billion dollars with Japan in 2010. (Japan exported more than Korea exported to Japan) Korea imports parts (core components) from Japan for their automobile and electronics industries. The Japanese government must make sure South Korea has the YEN (or dollars) to pay the Japanese exporters. This swap will benefit both governments.
astrogaijin
I'm not 100% sure but from what I've read it seems like trading currencies helps keep debt down and stabilize the fluctuations between exchange rates.
http://en.wikipedia.org/wiki/Currency_swap
issa1
Let the japanese people live in peace.No more fun !!!
Jared Norman
Even out the value of both Korean and Japanese money for economic emergencies
nath
Any economic people on here today? Explain what this really does please.