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China, Malaysia expand currency swap size to RMB 180 bln

Feb. 9, 2012 (China Knowledge) - The People’s Bank of China said today that it has signed an agreement with the central bank of Malaysia to expand the size of its three-year currency-swap deal to RMB 180 billion to help maintain financial stability and facilitate bilateral trade and investment.

The Chinese central bank said in a statement published on its website that the new agreement will expire on Feb. 8, 2015 and could be extended upon consent by both parties

On Feb. 8, 2009, the two countries inked RMB 80 billion of three-year currency swap agreement.

The Chinese central bank has signed similar currency swap deals with dozens of countries and regions in an effort to push forward the internationalization of RMB.

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