China inks currency swap agreements with over 40 foreign counterparts
The People’s Bank of China (PBOC) has established bilateral currency swap agreements with upwards of 40 foreign central banks or monetary authorities, a recent PBOC report unveils. Currently, 31 of these agreements are active, cumulatively amounting to approximately 4.16 trillion yuan (about 586 billion U.S. dollars).
These financial arrangements allow participating central
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