ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Bank of Thailand governor Veerathai Santiprabhob at the Asian Development Bank annual meeting in Yokohama on Saturday. (Photo by Shotaro Tani)
ADB Annual Meeting 2017

Thai central bank chief welcomes proposal to reduce US dollar transactions

Japanese plan moots bilateral currency swap safety net

SHOTARO TANI, Nikkei staff writer | Thailand

YOKOHAMA -- Thailand's central bank chief said Saturday he welcomed moves to wean Southeast Asia off its reliance on the U.S. dollar, as Japanese representatives put forward a bilateral currency swap proposal on the sidelines of the Asian Development Bank's annual summit.

Japan's proposed framework, if realized, would allow the 10 members of the Association of Southeast Asian Nations to withdraw up to 4 trillion yen ($40 billion) during times of financial crisis.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more