Iranian frozen assets transferred to Swiss: report

The Swiss National Bank plans to exchange its $6 billion holdings in won for dollars and then euros in the currency market, converting about 300 billion won ($223.85 million) to 400 billion each day for the next five weeks, Yonhap Infomax reported, citing an unnamed currency market source.

An official at South Korea’s finance ministry declined to confirm the report, citing the legal and diplomatic sensitivity of the matter, according to Reuters.

Iran and the United States recently reached an agreement over the prisoner swap and the release of Iran's frozen assets in South Korea. Iranian President Ebrahim Raeisi said last week that the released assets would be used to enhance domestic production.

MP/PR