South Korea's central bank said on Tuesday that it has rolled over US$450 million in loans to local banks in a bid to provide them with foreign currency liquidity.

According to the Bank of Korea (BOK), the loan was tapped from the nation's US$30 billion currency swap line with the US Federal Reserve, and auctioned off to six local lenders.

The 84-day loans were lent, bearing an average interest rate of 0.773 percent, according to the BOK.

As of Tuesday, the central bank's outstanding loans from the Fed credit swap line stood at US$4.05 billion, it added.

(Xinhua News Agency September 22, 2009)