Monday, March 16, 2009

Swap pact

THE People's Bank of China said yesterday it has signed a currency swap agreement with the National Bank of the Republic of Belarus.

The pact allows the two banks to swap 20 billion yuan (US$2.9 billion) in three years, which could extend if both sides agreed, the central bank said on its Website. The pact aimed to promote bilateral trade and investment to boost economic development, it said.

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