18 Dec '11, 10am

Bank of Thailand to sign currency swap deal with China

Bank of Thailand to sign currency swap deal with China

Thailand plans to sign a bilateral currency swap agreement this week worth 7 billion yuan (S$1.43 billion) with China's central bank to help facilitate international trade between the two countries, the Bank of Thailand said on Sunday. -- ST PHOTO: CAROLINE CHIA HUA HIN, Thailand (REUTERS) - Thailand plans to sign a bilateral currency swap agreement this week worth 7 billion yuan (S$1.43 billion) with China's central bank to help facilitate international trade between the two countries, the Bank of Thailand said on Sunday. 'This agreement will help Thai business to directly exchange yuan currency with the baht when necessary and they do not need to do it via the dollar,' Thai central bank Governor Prasarn Trairatvorakul told reporters in the southern Thai seaside town of Hua Hin. 'This will help promote the use of yuan for international trade,' he added. The agreement woul...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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