Central banks of Belarus, China sign currency swap agreement

MINSK (BelTA) – The National Bank of the Republic of Belarus (NBRB) and the People's Bank of China have signed a bilateral currency swap agreement, BelTA learnt from the information and PR department of the Belarusian central bank.

The document was signed to promote mutually beneficial trade and economic cooperation between Belarus and the People's Republic of China.

The agreement envisages the provision of funds in the national currencies by the parties to the total tune of Br16 trillion and RMB7 million. The document is valid for three years and can be prolonged on mutual consent of the parties.

“The currency swap within the signed agreement will promote the use of the national currencies in trade and investment activity between the companies of Belarus and China,” the central bank of Belarus said.