ASEAN renews currency swap deal to provide $2 billion support: Malaysia central bank
Reuters
Published Oct 13, 2017 12:39AM ET
Updated Oct 13, 2017 12:50AM ET
ASEAN renews currency swap deal to provide $2 billion support: Malaysia central bank
KUALA LUMPUR (Reuters) - The Association of Southeast Asian Nations (ASEAN) has agreed to renew a currency swap deal for two more years from Nov. 17, providing a total of $2 billion in financial support, the Malaysian central bank said on Friday.
The agreement was reached between regional central banks and monetary authorities, Bank Negara Malaysia (BNM) said in a statement.
Te ASEAN Swap Arrangement (ASA) was established in 1977 as part of regional initiatives to promote financial stability through the provision of short-term liquidity support for member countries which suffered temporary balance of payment difficulties.
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Written By: Reuters
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