Japan and Malaysia to promote direct yen-ringgit settlement
BNM and BoJ double size of swap line to $6bn to facilitate bilateral trade, investment
The Malaysian and Japanese authorities have said they will promote direct settlement in their respective currencies for trade and investment while doubling the size of their mutual swap line to $6 billion.
Bank Negara Malaysia (BNM) said in a release on September 15 that it had signed an agreement with Japan’s finance ministry to promote direct ringgit-yen settlement. “Under the [framework], both authorities have reached mutual agreement on initiatives relating to the promotion of the use of
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