ASEAN swap ceiling agreement signed

The Central Bank of Indonesia (BI), the Cambodian National Bank, the Monetary Authority of Singapore and the Bank of Thailand have signed an agreement to increase the ceiling of the ASEAN Swap Arrangement from 1 billion USD to 2 billion USD.

Under the agreement, ASEAN countries could borrow short-term loans by changing their domestic currencies for US dollars, euros or Japanese yens.

Earlier, Indonesia signed a similar agreement with Japan, under which Jakarta could borrow short-term loans from

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