China, Thailand renew currency swap deal

GMT 02:11 2014 Tuesday ,23 December

Arab Today, arab today China, Thailand renew currency swap deal

China Central Bank
Tokyo - KUNA

The central banks of China and Thailand on Monday decided to renew their three-year currency swap deal, worth CNY 70 billion (USD 11.4 billion), China's state-run Xinhua News Agency reported.
They also signed a memorandum of understanding on Chinese Renminbi clearing settlement in Bangkok, the People's Bank of China said in a statement.
According to the statement, the deal is a new step in the financial cooperation between both and will facilitate bilateral trade and investment.
It was announced after a visit by China's Premier Li Keqiang to Thailand last week for the fifth summit of the Greater Mekong Subregion Economic Cooperation.

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