Veerathai Santiprabhob (right), governor of the Bank of Thailand, and Haruhiko Kuroda, governor of the Bank of Japan, at the signing agreement. The Bank of Thailand and the Bank of Japan have signed an agreement to govern the Bilateral Swap Arrangement (BSA), enabling both countries to exchange their currencies. The facility under the arrangement amounts to US$3 billion (102.4 billion baht), said Chantavarn Sucharitakul, assistant governor, corporate strategy and relations group. On Friday, Bank of Thailand govern- or Veerathai Santiprabhob entered the deal with Haruhiko Kuroda, the governor of the Bank of Japan, acting as an agent for the minister of finance of Japan. Under the framework of the regional financial cooperation, this BSA is seen as a financial safety net against the emergence of future financial distress.

Source: Bangkok Post May 07, 2017 23:48 UTC