During the China-US Trade War, more & more innovative measures will be seen coming up and currency swapping will be one of them
China and Singapore have renewed a bilateral currency swap agreement worth 300 billion yuan ($43.98 billion) for three years.
Under the deal, PBC and MAS can access foreign currency liquidity to support trade and investment financing needs, including projects under the Belt and Road Initiative.
A currency swap, sometimes referred to as a cross-currency swap, involves the exchange of interest – and sometimes of principal – in one currency for the same in another currency.
China currency swap with other countries include:- 1/. EU 350 billion yuan 2/. Hong Kong 400 billion yuan 3/. South Korea 360 billion yuan 4/. Russia 100 billion yuan
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