Malaysia, China renew currency swap agreement

Malaysia and China renewed its 3 year currency swap agreement and increased its size to RM90 billion/RMB180 billion.

In a joint statement, Bank Negara Malaysia and the People's Bank of China said the original agreement was established on Feb 8, 2009 with an initial total size of RM40 billion/RMB80 billion.

"This renewed currency swap agreement will further reinforce the financial cooperation between both economies and facilitate greater bilateral trade and investment," they added.

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