Malaysia and Thailand ink 'milestone' settlement deal

Asean economies aim to settle more trade and investment in local currencies

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Bank of Thailand governor Prasarn Trairatvorakul and Bank Negara Malaysia governor Zeti Akhtar Aziz

Malaysia and Thailand have taken an early, but important step to facilitate the settlement of trade and investment in their respective currencies, the ringgit and the baht, at a time when they are at their lowest levels in years against the US dollar.

A memorandum of understanding (MoU) on the establishment of a framework to bolster bilateral settlement was signed by the two countries' central bank governors yesterday (August 27) in the Malaysian capital of Kuala Lumpur.

The initiative could

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