Asean renews currency swap deal to provide US$2b support, says Bank Negara

The agreement was reached between regional central banks and monetary authorities, Bank Negara Malaysia said in a statement. — Picture by Yusof Mat IsaThe agreement was reached between regional central banks and monetary authorities, Bank Negara said in a statement. — Picture by Yusof Mat Isa, Oct 13 — The Association of South-east Asian Nations (Asean) has agreed to renew a currency swap deal for two more years from November 17, providing a total of US$2 billion (RM8.4 billion) in financial support, the Malaysian said today.

The agreement was reached between regional central banks and monetary authorities, Bank Negara Malaysia () said in a statement.

The Asean Swap Arrangement (ASA) was established in 1977 as part of regional initiatives to promote financial stability through the provision of short-term liquidity support for member countries which suffered temporary balance of payment difficulties. — Reuters

Source: The Malay Mail Online








Leave a Reply

Your email address will not be published. Required fields are marked as *

Time limit is exhausted. Please reload CAPTCHA.