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European Central Bank and China strike currency swap deal

Posted on 11 October 2013

The European Central Bank and the People’s Bank of China have established a currency swap agreement, the latest in a string of moves to help encourage global use of the renminbi.
The swap line, at Rmb350bn ($57bn), will be China’s third largest after its facilities with Hong Kong and South Korea, and follows similar agreements with the UK, Australia and Brazil………………………………………..Full Article: Source


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