What major regional currency agreement was expanded under the Chiang Mai Initiative Multilateralisation (CMIM)?
AASEAN+3 liquidity swap facility for financial stability
BSingle currency replacement for South Asia
CGold-standard backing for the Japanese Yen
DDigital Rupee inter-bank network
Explanation
• The Chiang Mai Initiative Multilateralisation (CMIM) is a regional currency swap agreement between ASEAN member states plus China, Japan, and South Korea (ASEAN+3).
• Designed to address balance-of-payments shortfalls and short-term liquidity crises in East Asia, it reinforces regional financial safety nets.
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