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Japan and Thailand renew their bilateral swap arrangement
The Bank of Japan and the Bank of Thailand have renewed their Bilateral Swap Arrangement, which enables both countries to exchange their local currencies for US Dollars.
The Bank of Japan and the Bank of Thailand have renewed their Bilateral Swap Arrangement, allowing both countries to exchange their local currencies for US Dollars. The arrangement also permits Thailand to swap Thai Baht for Japanese Yen.
The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Bank of Thailand renewed the existing Bilateral Swap Arrangement (BSA) between the two countries today. The BSA is a two-way arrangement, in which both authorities are able to swap their local currencies in exchange for the US Dollar.
The arrangement also enables Thailand to swap the Thai Baht against the Japanese Yen. The size of the BSA remains unchanged, that is, up to 3 billion US Dollars or its equivalent in Japanese Yen.
Both authorities anticipate that maintaining such bilateral financial cooperation will contribute to preserving financial stability in both countries, and further support the close bilateral economic and trade relations between Japan and Thailand.
Bank of Thailand
Source : https://www.bot.or.th/en/news-and-media/news/news-20240723.html
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