MAS signs third bilateral swap arrangement with Bank of Japan
THE Monetary Authority of Singapore (MAS) said in a statement on Thursday that it has signed the third Bilateral Swap Arrangement (BSA) with the Bank of Japan - acting as the agent for the Minister of Finance - to enable the authorities in Japan and Singapore to swap their local currencies against US dollars.
The size of the facility is the same as the previous BSA where Singapore can swap Singapore dollars against US dollars up to US$3 billion while Japan can swap Japanese yen against US dollars up to US$1 billion.
"The authorities in Japan and Singapore are of the view that the strengthened bilateral financial cooperation will contribute to the stability of their financial markets, and help support growing economic and trade ties between the two countries," the MAS statement said.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’