Thailand, Japan close to currency swap deal-paper

Thailand and Japan are close to concluding a bilateral currency swap agreement in the next few months as part of a regional arrangement to support Asian currencies in crisis, the Nation newspaper said on Mar 13, 2001.

The daily newspaper quoted Japanese ambassador to Thailand Nobutoshi Akao as saying the pact would be part of an ASEAN Swap Arrangement (ASA) which would provide up to $1 billion in funds to stabilise currencies in distress. Both Thai and Japanese officials believe the arrangemen

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