China, Malaysia renew currency swap arrangement for 3 years

SHANGHAI: China and Malaysia have renewed their currency swap arrangement for a further three years, according to a statement on the website of the Malaysian central bank.

The swap exchanges 180 billion yuan ($29.04 billion) for 90 billion ringgit ($24.83 billion), according to the report, unchanged from the previous swap arrangement in 2012, which increased the size of the first swap signed in 2009.