China extends 20bln yuan currency swap deal with Pakistan
By Reuters
May 25, 2018
BEIJING: China's central bank said on Thursday it has signed a three-year bilateral currency swap agreement with Pakistan worth 20 billion yuan ($3.13 billion).
The People's Bank of China (PBOC) said on its website the swap deal would help bilateral trade and investment.
According to Xinhua, the two parties believe the extension will facilitate bilateral trade and investment to help economic development in the two countries.
Valid for three years, the agreement can be extended upon mutual consent.
A currency swap deal allows two institutions to exchange payments in one currency for equivalent amounts in the other to facilitate bilateral trade settlements and provide liquidity support to financial markets.
-
Oilers Vs Blackhawks Recap: McDavid, Bouchard Lead Edmonton -
Why Jennifer Garner, Jennifer Lopez Didn't Pose Together At Golden Globes -
Apple Turns To Google’s Gemini To Deliver Long-awaited Siri Revamp In 2026 -
Nicola Peltz Lifts The Lid On New Twist In Beckham Feud -
Rihanna Responds To The Possibility Of Having Another Child -
Brooks Nader Opens Up About Dissolving Her Lip Filler -
Meghan Markle Drops Cryptic 'save The Date' Hint For New As Ever Launch -
King Charles Celebrated In Uganda As Environmental Legacy Takes Center Stage -
Louis Tomlinson Knew Harry Styles Was Destined To 'take Over' -
Prince William Brings In Top Crisis Strategist As Royal Challenges Loom: Source -
Ben Affleck Jokes Tax Shock After Good Will Hunting Payday -
King Charles' Trust Marks Half-century With Hopeful Message -
Matt Damon Gets Candid About Standing By Ben Affleck During Tough Times -
Bebe Rexha Jokes About Asking Taylor Swift To Manage Her Career Amid Label Exit -
How Prince Harry’s Security Fight Could Change His Royal Future? Source -
Matthew McConaughey Finds It Difficult To Sit Through His Own Movies