The central banks of South Korea and Malaysia renewed their bilateral currency swap arrangement for three more years.
The arrangement between the Bank of Korea (BoK) and Bank Negara Malaysia (BNM) is effective until May 12, 2027. It can be further extended by mutual consent, the central banks said in a joint statement on May 13.
Under the renewed agreement, the two central banks are allowed to exchange up to 5 trillion won ($3.65 billion), or 15 billion ringgit ($3.17 billion). The size of the new
