Bank Negara, Bank of Korea renew KRW/RM swap deal
Published on 03 Feb 2020. | Source: thestar.com.my
KUALA LUMPUR: Bank Negara Malaysia and the Bank of Korea have entered into an agreement to renew the bilateral Korean won/ringgit (KRW/RM) swap arrangement.
The arrangement size according to Bank Negara was maintained at five trillion won/RM15 bil, the same amount under the previous arrangement established on Jan 25, 2017.
"This arrangement is designed to promote bilateral trade for the economic development of the two countries,” it said in a statement today, adding that this would further strengthen the financial cooperation between the countries.
The swap arrangement is for a period of three years and can be extended by mutual agreement between the two central banks. - Bernama
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