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RBA signs $30b currency swap pact with China
March 22, 2012 - 3:41PM Read later
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The Reserve Bank said it had signed a bilateral local currency swap agreement with the People's Bank of China (PBC).
The central bank said the agreement allows for the exchange of local currencies between the two central banks of as much as $30 billion or 200 billion yuan. It is for an initial period of three years and can be activated by either party.
The RBA said the deal aimed to support trade and investment between Australia and China, particularly in local-currency terms, and to strengthen bilateral financial cooperation.
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The agreement reflected the increasing opportunities available to settle trade between the two countries in Chinese renminbi (RMB) and to make RMB-denominated investments.
It follows the decision by the Chinese authorities last November to allow convertibility between Australian dollars and Chinese yuan in the interbank market in China.
The signing of this agreement occurred in Beijing at a ceremony between the PBC Governor Zhou Xiaochuan and RBA Governor Glenn Stevens, the bank said.
Read more: http://www.smh.com.au/business/r ... .html#ixzz1pq3i4nP7 |
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偶遇集 (2012-7-5) astina 
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