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The bilateral currency swap line agreement between the People’s Bank of China and the Central Bank of Hungary has been renewed

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Budapest, September 12, 2016

The People’s Bank of China and the Central Bank of Hungary has renewed the currency swap line between the two institutions. 

The bilateral currency swap line agreement between the People’s Bank of China and the Central Bank of Hungary has been renewed for a further three years with a maximum value of RMB 10 billion. The renewal of the swap line agreement was signed in Basel at the headquarters of the Bank for International Settlements (BIS).

The renewal of the swapline fosters bilateral economic and trade relations and promotes further developments of the renminbi financial markets.