Central banks of Japan and Thailand renew swap agreement
$3 billion bilateral arrangement aimed at supporting financial stability and trade
The Bank of Japan and the Bank of Thailand renewed their existing bilateral swap agreements on July 23.
Under the two-way arrangement, the central banks can swap their local currencies in exchange for the dollar. The arrangement also allows Thailand to swap the baht with the yen.
The size of the swap line remains at $3 billion or its yen equivalent.
In a joint statement, the banks said renewing co-operation would help preserve financial stability in both countries and support close bilateral
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