Japan, Malaysia sign 3 billion USD currency swap deal
Japan and Malaysia on September 18 signed a mutual currency swap arrangement to allow each side to provide the other up to 3 billion USD to prevent a financial crisis, the Japanese Finance Ministry said.
A man walks outside the Japanese Finance Ministry's headquarters in Tokyo (Photo: //www.bangkokpost.com)
Hanoi (VNA) - Japan and Malaysia on September 18 signed a mutual currency swap arrangement to allow each side toprovide the other up to 3 billion USD to prevent a financialcrisis, the Japanese Finance Ministry said.
The deal reflects the continued bilateral financial cooperationbetween Japan and Malaysia that will contribute to the stability of financialmarkets, the countries said in a joint statement.
Itwill further strengthen the growing economic and trade ties between the twocountries, it added.
Thearrangement, which enables both authorities to swap their local currencies forUS dollars, is aimed at safeguarding each other in times of currency turmoil,such as speculative attacks./.
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A man walks outside the Japanese Finance Ministry's headquarters in Tokyo (Photo: //www.bangkokpost.com) 
