KUALA LUMPUR: Bank Negara Malaysia 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, Bank Negara said in a statement today.
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.