China and Malaysia extend currency swap

Updated: 2012-02-08 19:20


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BEIJING — The central banks of China and Malaysia have increased the value of a bilateral currency swap to facilitate trade and investment, the People's Bank of China (PBOC) announced on Wednesday.

The amount of the swap was extended from 80 billion yuan(40 billion ringgit) to 180 billion yuan(90 billion ringgit), the bank said.

The new agreement will expire in three years, but may be extended if both sides consent.