Thailand, China renew bilateral currency swap arrangement

The central banks of Thailand and China have renewed a baht-yuan bilateral currency swap arrangement for five years to support trade and investment in the local currencies, the Bank of Thailand said on Friday.

The Bilateral Swap Arrangement allows for the exchange of local currencies up to 70 billion yuan ($10.83 billion) or 370 billion baht ($12.31 billion) for a period of five years, starting from Dec. 22, 2020, the BoT said in a statement, available here.