South Korea and the United Arab Emirates have renewed their currency swap agreement worth five-point-four billion U.S. dollars,... according to the Bank of Korea.
BOK Governor Lee Ju-yeol and his UAE counterpart Mubarak Al Mansoori sealed the three-year deal in Washington D.C. on Friday.
The deal which aims to boost financial stability for both countries was first signed in 2013, but was failed to be renewed before its expiry in 2016.
Terms of latest contract remains unchanged.
With the extention,... the swap agreement is valid until April 2022.