Singapore currency swap deal doubled to $48b
By Wang Xiaotian | China Daily | Updated: 2013-03-09 08:08
The People's Bank of China has signed an agreement with the Monetary Authority of Singapore to double the size of a currency-swap arrangement, the two sides said on Friday.
Originally agreed at 150 billion yuan in 2010, the swap has been increased to 300 billion yuan ($48.24 billion), or 60 billion Singapore dollars.
The arrangement will be effective for three years and could be further extended if both sides agree.
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