Fintech
Shinhan Bank secures first FX deal with Green Climate Fund worth $200 million
Shinhan Bank secured the Green Climate Fund\'s first foreign exchange derivatives transaction since the fund was established. The bank said it signed an FX derivatives deal worth about $200 million with the GCF on Aug. 6. The deal expands cooperation between the two from investment to foreign exchange. The GCF began an FX hedging programme using derivatives to reduce volatility in the value of contributions received in multiple currencies.
