Central Banks of China, Singapore Agree to 150 Billion Yuan Currency Swap (Jul 2010)

Renmimbi-Yuan

Source: Bloomberg – Central Banks of China, Singapore Agree to 150 Billion Yuan Currency Swap

Notable excerpts:

China agreed to a three-year currency swap with Singapore valued at 150 billion yuan ($22 billion), or S$30 billion…

China, which had the world’s largest currency reserves of $2.5 trillion as of June, is seeking to expand the use of yuan as a global currency and reduce reliance on the dollar. The central bank has signed at least 650 billion yuan of swap agreements with Argentina, Indonesia, Belarus, Malaysia, Hong Kong and Korea since December 2008.

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One thought on “Central Banks of China, Singapore Agree to 150 Billion Yuan Currency Swap (Jul 2010)

  1. Pingback: Singapore Inks Direct Currency Trade, RQFII Quota With China (Oct 2013) | livinginabubbleblog

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