(Reuters) -The U.S. Treasury on Tuesday said Thailand and Malaysia have agreed to regularly disclose any interventions in the foreign exchange market undertaken by their central banks.
Both Thailand and Malaysia committed to report interventions on at least a semi-annual basis, according to separate statements issued by Treasury with each country’s central bank.
Neither bank has, prior to now, made a practice of publicly disclosing their interventions in currency markets, according to the Treasury’s semi-annual currency manipulation report.
In the case of Malaysia, its monetary authority will report the net purchases and sales of foreign currencies on an aggregated basis over 12 months each March and September.
Thailand committed to semi-annual disclosures of FX interventions with a quarterly lag, but with no fixed publication dates.
Neither Thailand nor Malaysia was listed as either a currency manipulator or was on the Treasury’s watchlist for manipulation in its latest manipulation report in June.
The U.S., Thailand and Malaysia also reaffirmed their commitments to the International Monetary Fund’s agreement to avoid manipulating exchange rates to prevent effective balance of payments adjustment or to gain an unfair competitive advantage, the statements said.
(Reporting by Dan BurnsEditing by Bernadette Baum)
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