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Malaysia, RoK activate currency swap facility

The Bank Negara Malaysia (BNM) and the Bank of Korea (BOK) have activated a currency swap-financed facility to provide up to 15 billion RM or 5 trillion Won (4.7 billion USD) to support both countries’ trade settlements.
The Bank Negara Malaysia (BNM) and the Bank of Korea (BOK) haveactivated a currency swap-financed facility to provide up to 15 billionRM or 5 trillion Won (4.7 billion USD) to support both countries’ tradesettlements.

The facility was developed after the two bankssigned an agreement on a currency swap last October, aiming to encouragebilateral trade and curb the monetary exchange rate fluctuation.

It will benefit importers and exporters of the two countries byreducing the risk of currency mismatches and lower transaction costs ininternational trade.-VNA
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