The Reserve Bank of Australia and Bank of Japan have renewed the Bilateral Local Currency Swap agreement
for a further three years.
The initial swap agreement between the two central banks was signed in 2016 and has been renewed for
three-year periods since that time. Each agreement is designed to enhance the financial stability of the
two countries, and allows for the exchange of local currencies between the two central banks of up to
A$20 billion or JPY 1.6 trillion.