21.   Officials say it is critical that currency swaps, agreed upon in Chiang Mai, Thailand in May last year, fall into place.

22.   Offshore banks in Labuan can undertake any foreign exchange transaction, including forward and spot purchases and sales and currency swaps with non-residents and resident banks.

23.   The currency swap will revolutionize the way Europe does business and create a powerful global currency to rival the dollar and the yen.

24.   Mao said the administration had fully played its regulatory role by urging local borrowers to take various measures such as currency swaps to hedge risk.