China, Mongolia renew bilateral currency swap agreement

BEIJING, June 26 (Xinhua) -- The People's Bank of China (PBOC) and the Bank of Mongolia have recently renewed a bilateral currency swap agreement, the PBOC said Friday.

The size of the agreement is 15 billion yuan, or 7.85 trillion Mongolian tugrik, and the agreement is valid for three years, according to the PBOC.

The renewal will help further deepen financial cooperation between China and Mongolia, promote bilateral economic and trade exchanges, and maintain financial market stability, the Chinese central bank said.