SEOUL, April 13 (Reuters) - South Korea’s central bank said on Saturday it has agreed to renew a currency swap deal with the United Arab Emirates (UAE) to boost financial stability for both countries.
The $5.4 billion currency swap, which was first signed in 2013 and expired in October 2016, will be put in place until April 2022, the Bank of Korea said in a statement.
Talks to extend the deal have been delayed due to differences over regulatory issues, it added.
South Korea currently owns currency swap deals worth above a total of $132.8 billion with more than seven countries including China, Canada and Switzerland.
Reporting by Joori Roh, Editing by Sherry Jacob-Phillips