Malaysia and China extend currency swap arrangement
On February 8, the People's Bank of China and Bank Negara Malaysia renewed a currency swap arrangement for a further three years.
The central banks also announced the size of the deal would increase to 180 billion yuan/90 billion ringgit ($28.6 billion).
The original agreement was established on February 8, 2009, with an initial total size of 80 billion yuan/40 billion ringgit. The agreement formed part of a clear plan on the part of the Chinese authorities to expand currency swap operations.
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