The central banks of China and Canada have renewed their bilateral currency swap agreement, with a swap amount of 200 billion yuan.

On January 16, according to a notice on the website of the People's Bank of China:

With the approval of the State Council, the People's Bank of China and the Bank of Canada (the central bank of Canada) have renewed their bilateral currency swap agreement. The swap amount is 200 billion yuan, and the agreement has an effective term of five years, which can be extended with the consent of both parties.

The renewal of the bilateral currency swap agreement between China and Canada will help strengthen financial cooperation between the two countries, expand the use of local currencies between China and Canada, promote the convenience of bilateral trade and investment, and maintain financial stability.

(Source: People's Bank of China)

Original article: toutiao.com/article/7595889278694752820/

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