Japan, Malaysia sign 3 billion USD currency swap deal
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| A man walks outside the Japanese Finance Ministry's headquarters in Tokyo (Photo: bangkokpost.com) |
Hanoi - Japan and Malaysia on September 18 signed a mutual currency swap arrangement to allow each side to provide the other up to 3 billion USD to prevent a financial crisis, the Japanese Finance Ministry said.
The deal reflects the continued bilateral financial cooperation between Japan and Malaysia that will contribute to the stability of financial markets, the countries said in a joint statement.
It will further strengthen the growing economic and trade ties between the two countries, it added.
The arrangement, which enables both authorities to swap their local currencies for US dollars, is aimed at safeguarding each other in times of currency turmoil, such as speculative attacks.
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