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Japanese Finance Minister Taro Aso flashes a grin at the meeting of Japanese and ASEAN finance and central bank chiefs in Yokohama on May 5. (Photo by Kosaku Mimura)
Economy

Japan agrees to currency swap deals with Thailand, Malaysia

Agreements aimed at boosting ASEAN's resilience to financial crises

SHOTARO TANI, Nikkei staff writer | Japan

YOKOHAMA -- Japan has signed a bilateral currency swap deal with Thailand, a move aimed at strengthening the Association of Southeast Asian Nation's resilience to future financial crises. Under the agreement, the two countries will be able to swap their currencies with U.S. dollars when needed, with the size of the facility set at a maximum of $3 billion.

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