The BCRA and the PBC Confirmed the Currency Swap Agreement Activation

Miguel Pesce (BCRA) has met today with Yi Gang (PBC), in the context of the bimonthly meeting of Central Bank Governors at the Bank for International Settlements (BIS) in Basel, Switzerland.

They confirmed that the currency swap agreement between the two institutions, currently in force, has been activated. They also committed themselves to enhancing the use of RMB in the Argentine stock market for bilateral foreign exchange transactions.

The currency swap agreement involves the exchange of currencies to bolster international reserves for an amount of CNY130 billion, and a special activation of CNY35 billion to offset forex transactions.


January 8, 2023

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