The People’s Bank of China (PBC) and the BCRA have renewed their bilateral currency swap agreement for CNY130 billion.
Unlike previous agreements, the term of the new agreement has now been extended from 3 to 5 years, providing greater predictability regarding the continuity of this tool.
The activation of CNY35 billion (USD5 billion), initiated at the beginning of 2023, remains in effect to strengthen financial stability in Argentina and to support trade and investment between the two countries.
The renewal of these agreements reinforces the close cooperation between the two institutions and the excellent relationship they have maintained over the 17 years since the first agreement was signed in 2009.
