Thailand Japan Bilateral Currency Swap Arrangement Renewal
Summary
The Bank of Thailand and Bank of Japan have renewed their Bilateral Local Currency Swap Arrangement for three years until March 30, 2029. The arrangement, first established in 2020, permits exchange of local currencies up to THB 240 billion or JPY 800 billion. This enables both central banks to provide Thai Baht or Japanese Yen liquidity to eligible financial institutions in their respective countries.
What changed
The Bank of Thailand and Bank of Japan extended their existing Bilateral Local Currency Swap Arrangement (BSA) for another three-year term through March 2029. The arrangement retains the same capacity of THB 240 billion or JPY 800 billion, allowing mutual exchange of local currencies between the two central banks. This is the third renewal since the BSA was first established in 2020.
Financial institutions in Thailand and Japan may benefit from enhanced access to liquidity facilities in both Thai Baht and Japanese Yen should they require it. There are no direct compliance obligations imposed on private sector entities by this renewal. The arrangement serves as a precautionary financial stability tool rather than a regulatory requirement affecting business operations.
Source document (simplified)
Renewal of Bilateral Local Currency Swap Arrangement between Bank of Thailand and Bank of Japan
BOT Press Release No. 11/2026 | 30 Mar 2026
The Bank of Thailand and the Bank of Japan have renewed the Bilateral Local Currency Swap Arrangement (BSA) for a further three-year period until 30 March 2029.
The arrangement was first established in 2020 and has since been successively renewed. The BSA is designed to enhance the financial stability of the two countries. It allows for the exchange local currencies between the two central banks of up to THB 240 billion or JPY 800 billion, thereby enabling them to provide Thai Baht or Japanese Yen liquidity
to eligible financial institutions in Thailand and Japan.
Bank of Thailand
30 March 2026
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