The Bank of Thailand and the central bank of China have agreed on a currency swap agreement to foster their trade and investment ties.

The People’s Bank of China announced on Monday the decision to extend the swap deal between the two central banks for another three years, the Xinhua news agency reported.

The agreement allows the Chinese central bank to swap 70 billion yuan for 370 billion baht to facilitate their trade and investments, it added.

The three-year deal was signed by the two central banks in 2014.

source: Bangkok Post