Iranian assets that had been frozen in South Korea were transferred to Switzerland's central bank last week for exchange and transfer to Iran, according to a Monday report by Reuters which cited South Korean media.
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 next five weeks, Yonhap Infomax reported, referring to remarks by 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.
Iranian frozen assets in South Korea are scheduled to be released following a recent prisoner swap deal with the United States.