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June 10, 2023
Abstract : China's central bank on Friday said that it has renewed a bilateral currency swap agreement with the Central Bank of Argentina.
BEIJING, June 9 (Xinhua) -- China's central bank on Friday said that it has renewed a bilateral currency swap agreement with the Central Bank of Argentina.
The deal has a scale of 130 billion yuan (about 18.28 billion U.S. dollars), or 4.5 trillion Argentine peso. It will be valid for three years, according to the People's Bank of China.
A currency swap sees two parties agree to exchange a certain amount of foreign currency at a pre-determined rate, protecting against fluctuations.
Keyword: currency swap China-Argentina cooperation
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