The People’s Bank of China (PBC) and the Bank of Thailand (BOT) signed the Extension and Amendment Agreement to extend the Renminbi – Thai Baht Bilateral Swap Agreement (BSA).
Under this BSA, as in the previous agreement, the amount of RMB 70 billion or THB 370 billion shall be made available for a period of 3 years.
The swap transactions between the BOT and the PBC will provide an access for both
central banks to the local currency of the other party. This would bolster confidence of the private sectors as well as financial institutions on the availability of local currency for cross-border trade and investment settlement.
