×

Japan, South Korea agree to end currency swap deal end-Oct

TOKYO, Oct 9 (Reuters) - Japan and South Korea have agreed to let a bilateral currency swap arrangement expire as planned at the end of this month, Japan's finance ministry said on Tuesday.

The two sides saw no need for an extension of the deal given stability in financial markets and the economic health of both countries.

They also agreed to cooperate as appropriate when necessary while closely monitoring economic situation of the two countries and the rest of the world.

The two sides also agreed to hold a bilateral finance ministers' meeting on Oct. 11 in Tokyo on the sidelines of gatherings of the IMF and World Bank.

Japanese Finance Minister Koriki Jojima said the decision was based solely on economic reasons, not political issues.

(Reporting by Tetsushi Kajimoto; Editing by Michael Watson)

((tetsushi.kajimoto@thomsonreuters.com)(+81-3-6441-1829)(Reuter

Messaging: tetsushi.kajimoto.reuters.com@reuters.net))

Keywords: JAPAN ECONOMY/SOUTH KOREA