PBoC and Bank of Russia establishes $24.5bn swap line


The People's Bank of China (PBoC) and the Bank of Russia (BoR) today signed a swap agreement in Moscow to further boost trade relations between the world's second and eighth biggest economies.

The deal, worth 150 billion yuan ($24.5 billion), is the latest in a string of swap lines established between the PBoC and central banks in several advanced and developing economies in the past year, including the European Central Bank, the Bank of England and the Central Bank of Sri Lanka.

Agreed at a mee

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