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MAS renews bilateral local currency swap arrangement with Bank of Japan

MAS renews bilateral local currency swap arrangement with Bank of Japan 

The Monetary Authority of Singapore (MAS) has renewed the Bilateral Local Currency Swap Arrangement with the Bank of Japan (BOJ) for three years. 

Under the arrangement, the two central banks can exchange local currencies up to SGD 15 billion or JPY 1.1 trillion. MAS will thus be able to provide Japanese Yen liquidity to eligible Singapore financial institutions to support their cross-border operations. The arrangement was established in November 2016 and renewed in November 2019 for three years.
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