PBoC confirms Russian swap transactions
Chinese and Russian central banks disclose 'several currency swap trades'
The People's Bank of China (PBoC) has provided cash-strapped Russian banks with foreign money on multiple occasions since October, the two countries' central banks have confirmed.
It is the first time the PBoC has officially acknowledged the active use of a 150 billion yuan (815 billion ruble) swap line set up between China and Russia in October 2014.
"[Bank of Russia and the PBoC] have successfully launched several currency swap trades since October 2015 with funds involved ultimately
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