Brazil and China agree currency swap line
BCB says it is in talks to establish similar arrangements with other central banks
Brazil’s central bank announced it would be signing a 157 billion reais ($30 billion) five-year currency swap agreement with the People’s Bank of China.
Gabriel Galipolo, the governor of the Central Bank of Brazil (BCB), was due to sign the agreement with the PBoC, designed to provide liquidity during times of stress, during his visit to Beijing today (May 13).
In a statement yesterday, the BCB said it was in talks to set up similar swap agreements with other central banks, but did not specify
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