BUSINESS China, Japan renew currency-swap deal


China, Japan renew currency-swap deal


23:27, October 25, 2021

BEIJING, Oct. 25 (Xinhua) -- The People's Bank of China (PBOC) and the Bank of Japan have agreed to renew their bilateral currency-swap deal with a size of 200 billion yuan (about 31.3 billion U.S. dollars), or 3.4 trillion Japanese yen.

File photo: CGTN

The agreement will be valid for a three-year period and can be extended by mutual consent, China's central bank said Monday.

The currency-swap extension will help stabilize the financial markets of the two countries and facilitate bilateral economic and financial exchanges, according to the PBOC.

In October 2018, the PBOC inked a bilateral currency-swap agreement with its counterpart in Japan, allowing the two sides to swap a total of 200 billion yuan for 3.4 trillion yen, and vice versa.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue