SBP and People's Bank of China extend Currency Swap Agreement for three more years
MG News | May 25, 2018 at 09:48 AM GMT+05:00
State Bank of Pakistan and People's Bank of China have decided to extend Currency Swap Agreement for three more years after the previous agreement ran its tenure.
Extension of Bilateral Currency Swap Arrangement signed between the Central Banks of Pakistan and China.
Currency swap arrangement between State Bank of Pakistan (SBP) and People’s Bank of China (PBOC) was extended for a period of three years after representatives from both banks signed an agreement.
Both central banks agreed to increase amount from CNY 10 billion to CNY 20 billion.
Currency arrangement increased from PKR 165 billion to PKR 351 billion.
Two central banks to promote the usage of local currencies in bilateral trade and investment.
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