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Singapore, Japan central banks agree on currency swap line

Reuters  |  SINGAPORE 

(Reuters) - The Monetary Authority of (MAS) and the of have established a local agreement, the MAS said on Wednesday.

The agreement allows for the exchange of local currencies between the two central banks of up to 15 billion dollars ($10.53 billion) or 1.1 trillion yen, the MAS said.

"It will enable MAS to provide Japanese yen liquidity to eligible financial institutions in support of their cross-border operations," the central said.

The agreement is effective as of Wednesday for a term of three years, it added.

($1 = 1.4248 dollars)

($1 = 112.7100 yen)

(Reporting by Masayuki Kitano; Editing by Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Singapore, Japan central banks agree on currency swap line

SINGAPORE (Reuters) - The Monetary Authority of Singapore (MAS) and the Bank of Japan have established a local currency swap agreement, the MAS said on Wednesday.

(Reuters) - The Monetary Authority of (MAS) and the of have established a local agreement, the MAS said on Wednesday.

The agreement allows for the exchange of local currencies between the two central banks of up to 15 billion dollars ($10.53 billion) or 1.1 trillion yen, the MAS said.

"It will enable MAS to provide Japanese yen liquidity to eligible financial institutions in support of their cross-border operations," the central said.

The agreement is effective as of Wednesday for a term of three years, it added.

($1 = 1.4248 dollars)

($1 = 112.7100 yen)

(Reporting by Masayuki Kitano; Editing by Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Singapore, Japan central banks agree on currency swap line

(Reuters) - The Monetary Authority of (MAS) and the of have established a local agreement, the MAS said on Wednesday.

The agreement allows for the exchange of local currencies between the two central banks of up to 15 billion dollars ($10.53 billion) or 1.1 trillion yen, the MAS said.

"It will enable MAS to provide Japanese yen liquidity to eligible financial institutions in support of their cross-border operations," the central said.

The agreement is effective as of Wednesday for a term of three years, it added.

($1 = 1.4248 dollars)

($1 = 112.7100 yen)

(Reporting by Masayuki Kitano; Editing by Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22