Renewal of KRW/MYR Swap Arrangement between the Bank of Korea and Bank Negara MalaysiaRef No : 01/17/08 25 Jan 2017 Embargo : Not for publication or broadcast before 1500 hours on Wednesday 25 January 2017
The Bank of Korea and Bank Negara Malaysia today entered into an agreement to renew the bilateral KRW/MYR swap arrangement. The size of this arrangement is maintained at 5 trillion KRW/ 15 billion MYR, the same amount under the initial arrangement established in October 20, 2013. The swap arrangement is for a period of 3 years and can be extended by mutual agreement between the two central banks.
This arrangement is intended to promote greater use of local currencies in settlement of trade. This will further strengthen the financial cooperation between the two countries.
This announcement is available at the following websites:
The Bank of Korea: http://www.bok.or.kr
Bank Negara Malaysia: http://www.bnm.gov.my
Bank Negara Malaysia
Bank of Korea
25 January 2017
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