Malaysia, South Korea renew their bilateral swap agreement

The swap arrangement can be further extended via mutual agreement.

Bank Negara Malaysia (BNM) and the Bank of Korea have renewed their bilateral swap agreement (BSA) for three more years.

The two have maintained the arrangement at MYR15b/ KRW5t, the same as the BSA signed in 2020.

The swap arrangement can be extended by mutual agreement between the two central banks.

The BSA is aimed at further promoting bilateral trade between the two countries and strengthening the financial cooperation between Malaysia and Korea, BNM said in a statement published on its website.