The Bank of Thailand and the People’s Bank of China has renewed the Chinese Yuan - Thai Baht Bilateral Currency Swap Arrangement (BSA). The BSA aims to support trade and investment in local currencies as well as to strengthen bilateral financial cooperation between the two countries. In addition, it would bolster confidence of the private sectors on the use of local currencies in their cross border operations
This BSA allows for the exchange of local currencies up to RMB 70 billion or THB 370 billion for a period of five years, starting from 22 December 2020.
Bank of Thailand
8 January 2021
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