The People's Bank of China website reported on the 13th that, upon approval by the State Council, recently, the People's Bank of China and the Central Bank of Turkey have renewed the bilateral local currency swap agreement. The swap scale is 35 billion RMB / 189 billion Turkish lira, the validity period of the agreement is three years, and it can be extended with mutual consent. At the same time, both parties also signed a cooperation memorandum for establishing a RMB clearing arrangement in Turkey.
The above arrangements mark a new step in financial cooperation between China and Turkey, which will facilitate enterprises and financial institutions of the two countries to use their own currencies for cross-border settlements, further promoting the facilitation of bilateral trade and investment.
Original article: https://www.toutiao.com/article/7515392769821573658/
Statement: The article only represents the author's personal views. Please express your attitude by using the "like/dislike" buttons below.