China & S Korea sign $2bn currency swap deal

CHINA - The central banks of China and the Republic of Korea Monday signed a US$2 billion currency swap deal which both sides hailed as a move to enhance bilateral co-operation and regional financial stability.

Dai Xianglong, governor of the People's Bank of China and Park Seung, governor of the Bank of Korea, signed the contract. Dai said: "The deal is especially meaningful at the moment as we are celebrating the 10th anniversary of the establishment of diplomatic relations between our two

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