Activation of the Second Tranche of the Currency Swap

The BCRA and the People’s Bank of China confirmed today the activation of the second tranche of the currency swap for CNY47,000 million, which may be allocated to fostering bilateral trade and financial market stability in Argentina.

The first tranche for CNY35,000 million was activated in January, and now the second tranche for CNY47,000 million (equivalent to USD6,500 million) is being immediately activated.

The President of the BCRA, Migual Ángel Pesce, and the President of the People’s Bank of China, Pan Gongsheng, held a technical meeting in relation to the Memorandum of Understanding, which has four areas of action: economic research, international, superintendence and transactions.

The meeting was held within the framework of the participation of the President of Argentina, Alberto Fernández, in the opening ceremony of the Third Belt and Road Forum for International Cooperation that took place in the Great Hall of the People in Beijing.

October 18, 2023