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China and Malaysia renew, expand currency swap deal

China and Malaysia renew and expand their currency swap deal to boost financial cooperation and trade stability. - ADOBE STOCK
China and Malaysia renew and expand their currency swap deal to boost financial cooperation and trade stability. - ADOBE STOCK

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BEIJING: The central banks of China and Malaysia have renewed a bilateral currency swap agreement for five years, the People's Bank of China (PBOC) said on Friday.

The size of the swap has been expanded to 220 billion yuan (US$32.6 billion) or 130 billion ringgit from 180 billion yuan or 110 billion ringgit, the PBOC statement said.

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