PETALING JAYA: Bank Negara Malaysia (BNM) and the Bank of Japan, acting as agent of the Minister of Finance of Japan, today signed the second Bilateral Swap Arrangement (BSA).
This BSA enables both authorities to swap their local currencies (Japanese yen and Malaysian ringgit, respectively) for US dollar. The arrangement will provide up to US$3 billion (RM12.4 billion) for both countries.
“The BSA reflects the continued bilateral financial cooperation between Japan and Malaysia that will contribute to the stability of financial markets. It will further strengthen the growing economic and trade ties between the two countries,” BNM said in a statement.
