Currency swap deals likely with China, Malaysia

ISLAMABAD: The ministry of finance is considering entering into currency swap agreements with China and Malaysia for containing the eroding foreign exchange reserves, sources in the ministry told Dawn.

It has asked the State Bank to work out a strategy in consultation with the central bank of China for a currency swap arrangement.

‘China already has such an arrangement with 18 countries and the central bank of Malaysia is also working over this aspect,’ said a senior official of the ministry.