Monetary Authority of Singapore and Bank of Japan Renew Bilateral Local Currency Swap Arrangement

Singapore, 29 November 2022… The Monetary Authority of Singapore (MAS) today announced the renewal of the Bilateral Local Currency Swap Arrangement with the Bank of Japan (BOJ) for another three years.

2 Under the arrangement, the two central banks can exchange local currencies with each other of 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.

3 The arrangement was established in November 2016 and renewed in November 2019 for three years.

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