Consider the following statements regarding the Currency Swap | Test Portal UPSC Only

Consider the following statements regarding the Currency Swap Agreement (CSA) :-
(1) it is an agreement between two friendly countries to involve in trading in their own local currencies.

(2) Recently in May 2021, Bangladesh approved a $ 200 million currency swap facility for Thailand, becoming the third South Asian country to provide financial assistance to the Island Nation this year.

(3) In such agreements no third country currency is involved, thereby eliminating the need to worry about exchange variations.