S'pore-Japan currency swap

S'pore-Japan currency swap

SINGAPORE (Dow Jones): The Monetary Authority of Singapore
will carefully consider Japan's interest in a bilateral currency
swap agreement, the Straits Times reports, citing the island-
state's de facto central bank.

The Monetary Authority was responding to a statement made by
Japan's Vice Minister of Finance for International Affairs
Haruhiko Kuroda last week that the Japanese government is keen on
a swap pact with Singapore, the report said.

"Singapore is party to the ASEAN (Association of Southeast
Asian Nations) swap arrangement as well as repurchase agreements
with a number of central banks in the region, including the Bank
of Japan, and has no need for a bilateral swap arrangement at
this time," the Monetary Authority told the Straits Times.

"However, we note Japan's interest in a swap agreement with
Singapore and will give it careful consideration," it said.