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Bank of Thailand signs memo with Japan finance ministry

Bank of Thailand signs memo with Japan finance ministry

BANGKOK: Bank of Thailand announced the two bodies will establish a framework for cooperation to promote use of local currencies for settling trade and investment in both countries.

 Covered under the MoC is settlement that includes, among others, promotion of the direct exchange rate quotation and interbank trading between the Japanese Yen and the Thai Baht. This cooperation will be enhanced through information sharing and periodical discussions between Japanese and Thai authorities, the Bank announced.This collaboration marks a key milestone in strengthening bilateral financial cooperation between Japan and Thailand, it said. The authorities believe that it will positively contribute to closer trade and investment ties between the two countries.