Central banks of China and Europe renew bilateral currency swap agreement

Source: Department of Regional Opening-up / Updated: 2022-10-26

In October, the People's Bank of China and the European Central Bank renewed the bilateral currency swap agreement. The currency swap amount remains unchanged at 350 billion yuan or 45 billion euros, with a three-year period of validity.According to the People's Bank of China, the bilateral currency swap agreement is renewed again, and the renewal of the agreement will help further deepen financial cooperation between China and Europe, facilitate bilateral trade and investment, and maintain stability in the financial market.