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People's Daily Online>>Foreign Affairs

China signs currency swap deal with Thailand


22:30, December 22, 2011

BEIJING, Dec. 22 (Xinhua) -- China's central bank said Thursday that it has signed a 70-billion-yuan (11.06 billion U.S. dollars) currency swap agreement with the Bank of Thailand.

The agreement will last for three years and is extendable by mutual consent, according to a statement posted on the website of the People's Bank of China.

The swap is aimed at enhancing bilateral financial cooperation and promoting trade and investment as well as ensuring regional financial stability, it said.

Since the onset of the global financial crisis in late 2008, China has signed currency swap agreements with 13 countries and regions.

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