Caixin
Jan 09, 2023 09:06 PM
FINANCE

China Formalizes Expanded Currency Swap With Argentina

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What’s new: The central banks of China and Argentina have formalized an expanded currency swap pact, in yet another move to internationalize the yuan, also known as the RMB.

The deal adds a special activation of 35 billion yuan ($5.2 billion) to a previous agreement, which was valued at 130 billion yuan, the Argentine central bank said in a Sunday statement.

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