PBoC, MAS agree $22 billion currency swap

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Singapore on Friday became the latest state to sign a bilateral currency swap with China in a bid to promote bilateral trade.

The Monetary Authority of Singapore and the People's Bank of China announced the move at an event to promote bilateral cooperation between the two economies in Beijing.

The arrangement will give Singapore access to up to Rmb150 billion ($22.1 billion) and China access to S$30 billion ($21.9 billion).

The arrangement lasts for three years and can be extended by agreement b

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