Photo by Rock Staar via Unsplash.

Singapore, Japan renew bilateral swap arrangement

Singapore can swap up to $3b whilst Japan can swap up to US$1b.

The Monetary Authority of Singapore (MAS) and the Bank of Japan (BOJ) have renewed their existing bilateral swap arrangement (BSA).

Under the agreement, Singapore and Japan are able to swap their local currencies in exchange for the US dollar from each other. Singapore is also able to swap Singapore dollars in exchange for Japanese yen “in times of need,” the BOJ said in a press release posted on its official website.

ALSO READ: MAS appoints trade minister Gan Kim Yong as new chairman

The size of the BSA remains unchanged at US$3b for Singapore, whilst Japan can swap up to US$1b from Japanese yen to Singapore dollar.

The renewed BSA incorporates amendments to align with the recent amendments to the Chiang Mai Initiative Multilateralisation (CMIM) Agreement, BOJ said.

Follow the link s for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Singapore needs layered strategy against fraud
Scam and cybercrime cases in the city-state rose 18% to 28,751 in the first half.
OCBC to triple quantum workforce to boost security
The Singapore bank expects significant tech advancements in the next five to 10 years.
China’s payment system gets boost from renminbi rise
African SMEs get the same level of service as large companies under a more open China.