The governor of the Central Bank of Hungary (CBH), Gyorgy Matolcsy, today signed a bilateral currency swap agreement with his counterpart at the People's Bank of China (PBoC), Zhou Xiaochuan, worth a notional 10 billion yuan ($1.62 billion).
The agreement was signed at a meeting at the Bank for International Settlements in Basel and runs for three years. It can be extended by mutual consent. The CBH says the agreement allows it to "secure Chinese renminbi up to the agreed amount, which can be us
- Central bank digital currency a ‘terrible idea’, US Congress told
- People: Olli Rehn enters office as Bank of Finland governor
- Trump criticises Fed over rate rises and threatens higher tariffs
- ECB’s easing policies reduced inequality, paper says
- Infrastructure financing not harmed by post-crisis reforms – FSB