Thailand and China have decided to renew their currency swap agreement, announced the People’s Bank of China (PBoC) on January 8 (Photo: CNN)
Beijing (VNA) – Thailand andChina have decided to renew their currency swap agreement, announ🔥ced thePeople’s Bank of China (PBoC) on January 8.
The agreement allows the PBoC and the Bankof Thailand to change 70 billion CNY (about 10.8 billion USD) into 370 billionTHB. The decision aims to support bilateral trade and investments, as well aspromote the growth of the two economies. The new agreement will be valid for threeyears and could be extended by mutual consent. The two banks reached a 70 billion CNY currencyswap deal in December 2014. The deal allows the two banks to exchange paymentsin one currency for equivalent amounts in the other, facilitating bilateraltrade agreements and providing liquidity support to financial markets.-VNA
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Thailand and China have decided to renew their currency swap agreement, announced the People’s Bank of China (PBoC) on January 8 (Photo: CNN) 
