Signing of the renewal of the Chinese Yuan - Thai Baht Bilateral Currency Swap Arrangement
BOT Press Release No. 4/2021 | 08 Jan 2021
- Bank of Thailand and the Central Bank of the People's Republic of China Renewal of a bilateral agreement on the exchange of yuan and baht
- Local currency exchange transactions under the Agreement are capped at 70 billion yuan ($370 billion) and have a five-year term from December 22, 2020.
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
