South Korean media report that Swiss media are converting Iran’s currencies to dollars and then euros.
South Korean media report that eight trillion South Korean won from Iran’s released assets in the country have gradually been transferred to the Swiss central bank.
On Tuesday, the South Korean news agency Yonhap wrote that this amount, equivalent to six billion dollars, is being converted to dollars daily by Switzerland in order to reduce its impact on the Seoul foreign exchange market and the value of the country’s currency.
According to the announcement of the Seoul foreign exchange market, eight trillion won of Iran’s money in the Industrial Bank of Korea and the Woori Bank of South Korea has been transferred to the Swiss central bank since last week to be converted into other currencies.
According to this report, the Swiss central bank converts 300 to 400 billion won to dollars every working day and then converts the dollars to euros to be transferred to an Iranian account in a foreign bank.
A Seoul foreign exchange market official told this media outlet that it is predicted that all of Iran’s released money will be converted to dollars using this method within five weeks.
Persian
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