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Central banks agree to exchange up to 70 billion Chinese yuan over five-year period
The central banks of Thailand and China renewed an existing currency swap agreement yesterday (August 18).
Governors Pan Gongsheng of the People’s Bank of China (PBoC) and Sethaput Suthiwartnarueput of the Bank of Thailand (BoT) renewed the bilateral currency swap agreement starting from December 22 this year, according to a BoT press release. The renewed agreement allows for the exchange of local currencies up to 70 billion yuan ($9.7 billion) for a period of five years.
The BoT said the
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