China and Saudi Arabia set up currency swap line
Three-year swap line will provide liquidity to both sides of up to $6.98 billion
The central banks of China and Saudi Arabia have set up a bilateral currency swap agreement, they announced today (November 20).
In a separate move today, the People’s Bank of China (PBoC) kept its two key policy rates unchanged, in line with market expectations.
The swap line will allow both central banks to exchange up to 50 billion yuan ($6.98 billion) or 26 billion Saudi riyals ($6.93 billion). The arrangement will be valid for three years and can be extended with the agreement on both
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Currency
Currency Benchmarks 2024 – model banks analysis
Data highlights differences in cash management between central banks
Philippines launches new interest rate swap market
Central bank says platform could boost trading and liquidity in domestic bonds
Currency Benchmarks 2024 – executive summary
Data sheds light on banknote design features, access to cash policies and cash cycle management
Central bankers share lessons on FX interventions
Officials highlight benefits of transparent operations, clear frameworks at Autumn Meetings
Currency Benchmarks 2024 report – securing cash payments
As transactional cash use falls, many central banks are adopting policies to safeguard cash access
Most central banks forecast cash demand over one to three years
Median central bank expects 5% increase in cash in circulation in 2024
G+D dominates central bank note sorting
Giesecke+Devriant’s BPS M7 machine is very widely used among central banks
Nearly half of central banks have access to cash policy
High income countries slightly more likely to maintain access to cash policies