The central banks of China and Chile have recently renewed their bilateral local currency swap agreement for five more years, the People's Bank of China (PBOC), the central bank, according to a statement released on Thursday.
The swap deal is valued at 50 billion yuan (about 7.5 billion U.S. dollars), or 6 trillion Chilean pesos, according to the central bank.
The renewal of the bilateral local currency swap agreement will help further deepen monetary and financial cooperation between the two countries, facilitate bilateral trade and investment, and maintain the stability of financial markets, said the PBOC in the statement.
China, Chile renew currency swap deal for five more years
