Central Banking

Hungary signs RMB swap line with PBoC


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

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