KUALA LUMPUR: Bank Negara Malaysia (BNM) has renewed bilateral swap arrangement with Bank of Korea.
The previous agreement was signed in 2020.
In a statement, the central bank said the size of the arrangement is maintained at RM15 billion or five trillion won.
"Bank Negara Malaysia and the Bank of Korea today entered into an agreement
to renew the bilateral swap arrangement (BSA).
"The size of this arrangement is maintained at RM15 billion or five trillion won, which follows the BSA signed in 2020," it said in a statement.
The swap arrangement is for three years and 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 South Korea.
