Iceland, China sign $512m currency swap deal
The Central Bank of Iceland and the People's Bank of China on Wednesday inked a bilateral currency swap deal to boost trade prospects between the two countries.
The agreement, which will run for three years, is worth Rmb3.5 billion ($512m), or Ikr66 billion. The Icelandic central bank said both parties had agreed that the deal could be extended beyond its three-year lifespan if there was mutual consent.
The deal is the first of its kind between the two countries. According to Statistics Iceland
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