The central banks of Malaysia and Indonesia on September 27 signed a currency swap agreement, which allows the exchange of local currencies between the central banks of up to 2 billion USD.
At the signing ceremony between the two banks (source: https://www.bi.go.id)
Bank Negara Malaysia(BNM) said that the effective period of the agreement was three years and itcould be extended by mutual agreement of the central banks.
According to a jointstatement issued by the two sides, the agreement will enable both central banksto access foreign currency liquidity from each other if needed, and contribute toefforts to support the wider usage of local currencies to facilitate economic cooperationbetween the two countries.
The two banks alsosigned a Memorandum of Understanding (MoU) to promote closer cooperation oninnovation in payments and digital financial services, as well as supervising anti-moneylaundering and counter financing for terrorism./.VNA