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South Korea and UAE renew deal to swap currencies more than $ 5 billion for 3 years
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South Korea's central bank said it had agreed to renew a currency swap agreement with the UAE to boost financial stability for both countries.
The $ 5.4 billion currency swap, first signed in 2013 and completed in October 2016, will be put into effect by April 2022, the Bank of Korea said in a statement, adding that talks to extend the deal had been postponed due to disagreements on regulatory issues.
South Korea has currency swap agreements totaling more than $ 132.8 billion with more than seven countries, including China, Canada and Switzerland.
http://economy-news.net/content.php?id=16229
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