Japan, Malaysia sign bilateral swap arrangement
By NST Business September 18, 2020 @ 11:16am
KUALA LUMPUR: The Bank of Japan, acting as agent of Minister of Finance of Japan, and Bank Negara Malaysia have today signed the second Bilateral Swap Arrangement (BSA).
In a statement today, Bank Negara said the BSA would enable both authorities to swap their local currencies (Japanese yen and Malaysian Ringgit respectively) for US dollar.
The arrangement will provide up to US$3 billion for both countries.
The central bank said the BSA reflected the continued bilateral financial cooperation between Japan and Malaysia that would contribute to the stability of financial markets.
It would also strengthen the growing economic and trade ties between the two countries, Bank Negara added.