FOREIGN EXCHANGE | Staff Reporter, Singapore

Singapore, Japan central banks extend bilateral currency swap program

Under the agreement, Singapore provides yen liquidity to eligible financial firms to support cross-border operations.

The Monetary Authority of Singapore (MAS) has renewed its Bilateral Local Currency Swap Agreement with the Bank of Japan for another three years, according to a press release.

Under this program, MAS will provide yen liquidity to enable eligible Singapore financial institutions to support their cross-border operations.

The agreement was established in November 2016 to enable the two central banks to exchange local currencies with each other for up to US$10.9b (S$15b; JPY1.1t).

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.