Reserve Bank of Australia and Bank of Japan renew currency swap agreement

Michele Bullock Governor
Michele Bullock Governor - Official website
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The Reserve Bank of Australia and the Bank of Japan have agreed to renew their Bilateral Local Currency Swap Agreement for an additional three years. The original agreement, signed in 2016, has been consistently renewed in three-year increments.

This arrangement aims to bolster financial stability between Australia and Japan by permitting the exchange of local currencies up to A$20 billion or JPY 1.6 trillion between the two central banks.



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