Malaysian Central Bank BNM And People's Bank Of China Renew Bilateral Currency Swap

KUALA LUMPUR, Aug 20 (Bernama) – The Malaysian central bank, Bank Negara Malaysia (BNM) and the People’s Bank of China recently entered into an agreement to renew the bilateral currency swap arrangement with a size of RMB180 billion/RM110 billion for a further tenure of three years. The agreement was first established in 2009 and renewed in 2012 and 2015, BNM said in a statement Monday. The renewal of the agreement demonstrated continuous commitment in promoting the use of local currencies for settlement of bilateral trade and direct investment between Malaysia and China. -- BERNAMA