KUALA LUMPUR (Feb 8): Bank Negara Malaysia (BNM) and the People's Bank of China (PBoC) renewed their currency swap agreement on Wednesday for a further term of three years.
The central banks said in a joint statement the size was increased to 180 billion renminbi or RM90 billion.
The original agreement was sealed on Feb 8, 2009 with an initial total size of 80 billion renminbi or RM40 billion.
“This renewed currency swap agreement will further reinforce the financial cooperation between both economies and facilitate greater bilateral trade and investment,” they said.
The central banks said in a joint statement the size was increased to 180 billion renminbi or RM90 billion.
The original agreement was sealed on Feb 8, 2009 with an initial total size of 80 billion renminbi or RM40 billion.
“This renewed currency swap agreement will further reinforce the financial cooperation between both economies and facilitate greater bilateral trade and investment,” they said.
