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China Daily | Updated: 2016-03-16 08:11
Govts & policies
Currency swap arrangement
The People's Bank of China and the Monetary Authority of Singapore on Tuesday announced the renewal of the existing bilateral currency swap arrangement for a further term of three years. The original arrangement was established in 2010 and first renewed in 2013. The new arrangement is effective as of March 7. The arrangement is a key pillar of cooperation between PBOC and MAS to strengthen regional economic resilience and financial stability.
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