The Bank Negara Malaysia (BNM) and the Bank of Korea (BOK) have activated a currency swap-financed facility to provide up to 15 billion RM or 5 trillion Won (4.7 billion USD) to support both countries’ trade settlements.
The facility was developed after the two banks signed an agreement on a currency swap last October, aiming to encourage bilateral trade and curb the monetary exchange rate fluctuation.
It will benefit importers and exporters of the two countries by reducing the risk of currency mismatches and lower transaction costs in international trade.-VNA
The facility was developed after the two banks signed an agreement on a currency swap last October, aiming to encourage bilateral trade and curb the monetary exchange rate fluctuation.
It will benefit importers and exporters of the two countries by reducing the risk of currency mismatches and lower transaction costs in international trade.-VNA
