China set to sign currency swap with Mongolia

chinese yuan

The Bank of Mongolia has said it will sign a currency swap agreement with the People's Bank of China (PBoC), in a bid by the Chinese central bank to further boost trade settlement in yuan.

On Thursday, a spokesperson at the Bank of Mongolia's London representative office told CentralBanking.com that Zhou Xiaochuan, the governor of the PBoC, was set to visit Ulaanbaatar, Mongolia's capital, to sign a currency swap agreement. However, it said details of the agreement had yet to be announced

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