Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Beijing, November 3 (Xinhua) — The People's Bank of China (PBOC, central bank) has extended its bilateral currency swap agreement with the Bank of Korea (BoK).
The swap size is 400 billion yuan (approximately $56.44 billion), or 70 trillion South Korean won, the PBOC said in a statement.
The agreement is valid for five years with the possibility of further extension by mutual agreement, according to the statement.
The People's Bank of China expressed confidence that the extension of the currency swap agreement will contribute to further deepening monetary and financial cooperation between the two countries, promoting the facilitation of bilateral trade procedures and maintaining the stability of financial markets.
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