ECB and PBOC establish currency swap line

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Source: Bloomberg
© Scanpix/RS
The European Central Bank and the People's Bank of China decided to establish a bilateral currency swap line helping to boost the international use of the Chinese Yuan and bolster an access to the Eurozone's finance trading. The currency swap line is valid for three years totaling 45 billion euros when the Euro is provided to the PBOC and 350 billion Yuan when money is given to the ECB.

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