Selangor Journal
A man walks past the entrance of Bank Negara Malaysia (BNM) in Kuala Lumpur, on July 31, 2019. — Picture by REUTERS

Malaysia, Japan renew bilateral swap arrangement

KUALA LUMPUR, Sept 19 — The Bank of Japan (BoJ) and Bank Negara Malaysia (BNM) have renewed the second Bilateral Swap Arrangement (BSA), effective Sept 18, 2023.

The arrangement provides up to US$3 billion for both countries.

According to a joint statement by BoJ and BNM today, the signed Amendment and Restatement Agreement follows the BSA signed in 2020, which enables both authorities to swap their respective currencies for the US dollar.

“The renewed BSA incorporates the recent amendments to the Chiang Mai Initiative Multilateralisation Agreement,” the central banks said.

The BSA will deepen financial cooperation between the two countries, enhance regional financial stability and further strengthen the growing economic and trade ties between the two countries.

— Bernama

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