KUALA LUMPUR: Bank Negara Malaysia and the Bank of Korea have today entered into an agreement to renew the bilateral won-ringgit swap arrangement. Bank Negara said the size of the arrangement stood at five trillion won or RM15 billion, the same amount under the previous arrangement established on January 25, 2017. "The swap arrangement is for a period of three years and can be extended by mutual agreement between the two central banks. "This arrangement is designed to promote bilateral trade for economic development of the two countries. This will further strengthen the financial cooperation between the countries,” Bank Negara said in a statement.

Source: New Strait Times February 04, 2020 03:33 UTC