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.