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, January 16 (Xinhua) — The People's Bank of China (PBOC, central bank) has extended its bilateral currency swap agreement with the Bank of Canada (CBK).
The swap size is 200 billion yuan (approximately $28.5 billion), according to a statement released by the People's Bank of China on Friday.
As follows from the notice, the agreement is valid for five years with the possibility of further extension by mutual agreement of the parties.
The Chinese Central Bank stated that the update of the currency swap agreement will help strengthen financial cooperation between the two countries, expand the use of national currencies in settlements between China and Canada, simplify bilateral trade and investment activities, and maintain financial stability.
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