Thailand, Malaysia aim to set up bahtringgit clearinghouses
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Thailand and Malaysia are expected to sign a deal this quarter to establish baht-ringgit clearing-houses in both countries, starting with Bangkok Bank and Kasikornbank in Thailand.
CIMB and Maybank will be the clearing-houses in Malaysia.
Tongurai Limpiti, deputy governor of the Bank of Thailand for financial institutions’ stability, said Tuesday that the clearing agents would offer direct local-currency settlement to both exporters and importers and conduct market making of the two currencies as the benchmark for traders.
