Japan and Malaysia on September 18 signed a mutual currency swap arrangement to allow each side to provide the other up to 3 billion USD to prevent a financial crisis, the Japanese Finance Ministry said.
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.
Japan on May 5 proposed a new type bilateral currency swap agreement, worth 40 billion USD, to the ASEAN to tackle short-time liquidity difficulties during crisis time, Kyodo News Agency reported.
The Republic of Korea and Indonesia have agreed to extend a currency swap deal for another three years as part of efforts to strengthen bilateral financial cooperation.
Indonesia and Japan signed to extend a bilateral currency swap agreement on the sidelines of an annual meeting between the International Monetary Fund and the World Bank on October 9.
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