21.12.2016

The People's Bank of China and the Central Bank of Iceland have renewed their currency swap agreement

The People's Bank of China and the Central Bank of Iceland have renewed their currency swap agreement



The People's Bank of China and the Central Bank of Iceland have renewed their bilateral currency swap agreement. The original agreement was signed in 2010 and renewed for the first time in 2013. The purpose of the agreement is to promote bilateral trade and direct investment for economic development of the two countries and enhancing financial cooperation. The agreement involves provisions to facilitate smooth payments between the two countries. The amount of the agreement is 3.5 billion CNY or 57 billion ISK. The agreement has a three year maturity and may be renewed again.

Further information can be obtained from Már Guðmundsson, Governor of the Central Bank of Iceland, at tel: +354 569-9600.

 

No. 32/2016

                                                                                                                                                                                                                                                                                                                          21 Desember 2016


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