BoE and People’s Bank of China renew currency swap line

Written by Oliver Wade
12/11/2018

The Bank of England (BoE) and the People’s Bank of China have today announced that they have signed an agreement to renew the existing reciprocal sterling and renminbi (RMB) currency swap line for an additional three years.

The maximum value of the swap line will remain unchanged at RMB350bn.

Commenting on the agreement, BoE governor Mark Carney said: “The renminbi’s role in global trade and capital flows continues to increase. The renewal of this swap line reflects a continued commitment by the Bank of England and the People’s Bank of China to support an effective and resilient renminbi market in the city of London - the leading centre for renminbi trading outside of greater China.”

    Share Story:

Related Articles

Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

Newsletter

Subscribe to our newsletter to receive breaking news by email.




MoneyAge welcome
MoneyAge Editor Adam Cadle discusses the brand and what is on offer

World Markets (15 minute+ time delay)