Japan and Malaysia Sign Third Bilateral Currency Swap
Overview
Japan and Malaysia signed their third bilateral currency swap agreement, with a maximum exchange amount equivalent to 6 billion U.S. dollars. The agreement takes effect on September 18 of this year. Both countries agree that the agreement will help deepen financial cooperation between them and contribute to financial stability in Asia. Under the agreement, the authorities of both countries may exchange U.S. dollars for their respective currencies, and the Malaysian authorities may exchange Japanese yen for their currency.
Key points
- Japan and Malaysia signed their third bilateral currency swap agreement.
- The maximum exchange amount is equivalent to 6 billion U.S. dollars.
- The agreement takes effect on September 18 of this year, and both countries agree that it will deepen financial cooperation between them and contribute to financial stability in Asia.
Overview
The Ministry of Finance announced the signing of the third bilateral currency swap agreement between Japan and Malaysia. As with the previous agreements, it provides a framework for the authorities of both countries to exchange currencies.
Both countries agree that the agreement will help further deepen financial cooperation between them and contribute to financial stability in Asia.
Impact
Both countries agree that this agreement will help further deepen financial cooperation between them and contribute to financial stability in Asia.
Details
The agreement was signed between the Bank of Japan, acting as agent for the Minister of Finance of Japan, and Bank Negara Malaysia. It takes effect on September 18 of this year.
The maximum exchange amount under the agreement is equivalent to 6 billion U.S. dollars. The authorities of Japan and Malaysia may exchange U.S. dollars for their respective currencies. The Malaysian authorities may also exchange Japanese yen for their currency.