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Singapore and Japan renew bilateral swap arrangement
They can exchange local currencies of up to S$15b or JPY1.1t.
The Monetary Authority of Singapore (MAS) and the Bank of Japan (BOJ) have renewed their bilateral local swap arrangement for three more years.
Under the arrangement, the two central banks can exchange local currencies with each other of up to S$15b or JPY1.1t, according to a press release on 28 November 2025.
MAS said that the arrangement enables it to provide Japanese yen liquidity to eligible local financial institutions to support their cross-border operations.
This arrangement was established in November 2016 and had since been renewed every three years, MAS said.
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